Arcadia

Arcadia, founded in 2014 by Kiran Bhatraju, is a Washington D.C.-based climate technology company working to enable a zero-carbon economy. The company's core offering is a clean energy technology platform that provides consumers and businesses access to renewable energy without the need for installing solar panels or other hardware. Arcadia's platform integrates with over 9,500 utility providers across 52 countries, covering more than 95% of US residential and commercial utility accounts.

Arcadia's primary service allows customers to support renewable energy through two main programs. The first is a community solar program, available in select states, which enables subscribers to receive credits on their utility bills for supporting local solar projects, potentially saving up to 10% on their electricity costs. The second program, available more widely, involves purchasing Renewable Energy Certificates (RECs) on behalf of customers, effectively matching their energy consumption with clean energy generation.

The company's Arc platform provides businesses with API-based access to energy data, enabling them to develop innovative energy products and services. This data access allows for various applications, including electric vehicle charging optimization, ESG reporting, energy cost management, and solar and storage solutions. As of 2022, Arcadia had processed over USD 600 million in residential utility bill payments and was managing more than two GW of solar energy.

Arcadia's business model involves acting as an intermediary between consumers, utilities, and renewable energy producers. For community solar customers, Arcadia manages billing and applies solar credits to their accounts. For other customers, Arcadia charges a flat fee of USD five per month to match 100% of their energy usage with RECs from wind farms.

Key customers and partnerships

Arcadia serves over 300,000 members across all 50 states, including both residential and commercial customers. The company has partnered with over 300 businesses across multiple sectors to power their operations and develop energy solutions. Notable partnerships include Goldman Sachs, Airbnb, and American Farmland Trust.

In the community solar space, Arcadia works with more than 75 solar developer partners. The company's community solar projects are currently available in select states, including Colorado, Maryland, Illinois, Maine, Massachusetts, New Jersey, New York, and Rhode Island.

Arcadia has also formed strategic partnerships to expand its reach and capabilities. For instance, in May 2022, Arcadia acquired Urjanet, a company specializing in utility data aggregation, to enhance its data access and processing capabilities.