LOS ANGELES, May 01, 2025 (GLOBE NEWSWIRE) — PearlX, an energy infrastructure and capital partner to multifamily owners and developers, and Cal Solar Inc., California’s largest multifamily new construction solar financier, developer and design/builder, have worked together to develop a $4.5 million solar power and battery system to the first phase a new 451-unit multifamily project currently under construction in Murrieta, California.
As a solar infrastructure equity partner for multifamily owners and operators, PearlX will manage the installation, upkeep and long-term maintenance of a solar and battery system at the property through a triple-net lease structure. In conjunction with Cal Solar Inc., the project’s development, engineering, procurement and construction partner, PearlX will be providing residents at the community with a clean energy amenity that will decrease energy costs and lower their carbon footprint.
Situated amid the rolling hillsides of Murrieta, a premiere city in Southern California’s Inland Empire, the development is designed to offer high-density living in resort-like accommodations. Once complete, the community will include distinct neighborhood districts made up of numerous amenities and two-four-story residential buildings, catering to a broad range of renters and price points.
“We’re delighted to be bringing high-tech solar amenities to this project alongside Cal Solar Inc. to future-proof this community against rising energy costs,” said Phillip Forrester, Senior Director of Sales at PearlX. “Our solar and battery systems will help to bring down utility bills for residents while providing Greystar with an additional stream of long-term revenue through our leasing program.”
“California’s new construction multifamily solar and battery storage requirements are significant, and not many solar design/build contractors have the 500-project experience and market-leading in-house engineering and maintenance teams to handle jobs of this scope and nature,” said Sean Neman, CEO of Cal Solar Inc. “As the solar and EV charging partner of choice for Greystar and other large multifamily developers, Cal Solar Inc. is deeply familiar with the new construction process and is able to be responsive to shifting policies and multifamily market conditions in a way that most other solar companies can’t.”
Known for its top-rated schools, safe neighborhoods, abundant parks and proximity to both San Diego and Los Angeles, Murrieta is the perfect location for a development of this size,” said Adam Covington, Senior Director of Development at Greystar, the development team behind the project. “This is our second project with PearlX and Cal Solar Inc. in a short time frame, and it’s great to know we can rely on them over the long haul to manage all aspects of solar infrastructure development, installation and ongoing maintenance of these crucial systems.”
Construction commenced in late 2024 and is expected to wrap up in late 2027.
About PearlX
Founded in 2019, PearlX is an energy infrastructure and capital partner that works with multifamily owners and operators across the U.S. to provide clean, reliable smart grid power systems to thousands of residents at a reduced rate, while increasing NOI for owner-operators. Through installing and operating solar and battery storage systems and other electrification amenities on multifamily properties, PearlX helps multifamily property owners meet their ESG goals with no capital outlay. To learn more about PearlX, visit: https://pearlx.com/.
About Cal Solar Inc.
Cal Solar Inc. specializes in the development, design and self-perform construction of solar PV, battery storage, and EV charging systems for commercial customers. As California’s leader in energy solutions for multifamily projects, Cal Solar Inc. has successfully developed, engineered and constructed over 400 multifamily solar projects. Cal Solar Inc. serves the entire state of California through offices in Los Angeles, San Diego, and Hayward. To learn more about Cal Solar Inc., visit: https://calsolarinc.com.
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