Before I founded Arcadia and shortly after college, I worked on Capitol Hill in Washington, DC, where I learned a lot about power.
I learned that those who have it rely on inertia, and it often requires new energy to change who is in power.
I believe that technology and data can revolutionize the power sector, opening clean energy access for all Americans.
In today’s world, centralized fossil fuel companies have all the power — literally and figuratively. And even amid a growing climate crisis and constant hotter-than-recorded-history temperatures, a push to a decarbonized, decentralized power grid is still an uphill battle.
I started Arcadia to shift those power dynamics. I believe that technology and data can revolutionize the power sector, opening clean energy access for all Americans. And I’m incredibly excited today to announce that we’ve raised a $100 million Series D investment round to help us dramatically accelerate our mission.
Seven years after founding the company, thanks to the hard work and dedication of the Arcadia team and our loyal members, we have helped hundreds of thousands of customers choose clean and affordable energy. We are unlocking home energy data across hundreds of utilities and managing half a gigawatt of cheaper, cleaner, local energy with the largest community solar portfolio in the US.
We’ve come a long way, but our work is only beginning. As evidenced by troubling images of destruction caused by extreme weather from California to Louisiana, the climate crisis continues to worsen. The urgency of transitioning to clean energy has never been greater.
This funding round allows us to dramatically expand our impact, from promoting cheaper, cleaner, accessible energy through community solar in more states, to expanding data and payment tools helping customers and businesses navigate clean electrification.
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Clean energy for all
Community solar is not only the fastest-growing segment of solar, it’s also a silver bullet for decarbonization and environmental justice. Two-thirds of Americans will never be able to put solar panels on their roof, and far too many Americans are in need of an option that provides additionality and savings. Community solar does just that.
At Arcadia, we’ve taken away all the complexity from joining a community solar farm, guaranteeing savings for customers without long-term commitments. But virtual net-metering policies that underlie community solar are only available in a few states today. We have to continue to expand the map.
We’ll continue to advance policies that secure a 100% clean energy future, equitably and fairly, and deepen our policy work and engagement with lawmakers to expand access to community solar and build a cleaner, more distributed, and more resilient electric grid.
Just as lawmakers across the country are looking to enact policies that curb carbon emissions, companies are paying more attention to their sustainability goals and making climate-conscious decisions.
Arcadia has partnered with Airbnb, Goldman Sachs, Misfits Market, and Reformation, among many others, to provide access to community solar and other renewable energy sources as an employee benefit.
With this new investment, Arcadia will be able to deepen and expand our partnerships with businesses, providing their employees more ways to join the fight to end the climate crisis.
Helping customers navigate electrification
Fighting climate change requires everyone to do their part, but when it comes to how we power our homes and businesses, consumer choices have been limited by a largely one-size-fits-all approach.
This latest funding round will allow Arcadia to expand into new verticals, leveraging individual energy data to guide customers through the challenges that come with rapid electrification, like electric vehicles and home energy generation and storage.
We’re looking forward to sharing exciting news about these expansions in the coming weeks.
This is just the beginning
Innovative tech companies across industries like healthcare, transportation, food, and travel have given customers an unprecedented level of choice and control, shifting power from incumbents to new entrants. The idea has always been to do the same with Arcadia, with the ultimate goal of building a sustainable, decarbonized, and decentralized energy system.
By digitizing the energy sector, Arcadia is fundamentally reinventing the energy experience for households and businesses across the country. Join us on the mission.