Arcadia becomes first community solar provider to reach 2GW capacity

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Jan 10, 2024, 12:00 ET

Reaffirms status as largest manager of community solar projects in the United States

DENVER, Jan. 10, 2024 /PRNewswire/ -- Arcadia, a technology company connecting the clean energy future, is thrilled to announce a groundbreaking milestone in the clean energy sector. Arcadia now manages 2 gigawatts (GW) of community solar capacity and counting, reinforcing its commitment to a sustainable future and expanding access to renewable energy.

Community solar makes it easy for individuals and businesses to access clean energy and solar savings — without the costly logistical barriers associated with private solar panels. As respective solar farms generate clean energy, Arcadia makes sure that enrolled customers automatically receive solar credits on their power bills, resulting in annual savings. Arcadia's dedication to community solar has led to the rapid growth of its portfolio, making it the nation's largest player in the space — with capacity under management in 15 states.

"We're thrilled to announce we've reached two gigawatts (2 GW) of community solar capacity, extending our position as the market leader," said Kiran Bhatraju, Arcadia's founder and CEO. "Hitting 2 GW is a testament to our unwavering commitment to providing accessible, affordable, clean energy to communities across the nation. As community solar continues to grow in the US, this milestone reflects our goal to democratize renewable energy and contribute to a more sustainable world." Further insights can be found in Kiran's blog post.

By hitting this milestone, Arcadia reaffirms its status as the industry leader, with a Policy team that is actively pushing for market expansion and a positive customer experience.

Key highlights of Arcadia's journey to 2 GW in community solar include:

Expanding geographic reach: Arcadia's community solar program spans across 15 states from coast to coast, connecting over 223K subscribers to active or planned solar projects.
Environmental impact: This 2 GW of clean energy capacity is equivalent to preventing more than 2 billion pounds of coal from being burned to power the grid each year.
Affordability and accessibility: Arcadia's commitment to affordability ensures that clean energy is accessible to a wide range of households and businesses. This announcement builds on Arcadia's recent partnership with EDPR NA, Google, and Elevate to reduce the energy cost burden for 25,000 low- and middle-income U.S. households.
Commitment to clean energy: Arcadia is at the forefront of advancing the transition to clean energy, exemplifying the potential for private sector companies to drive positive change.

This milestone illustrates the power of community solar in broadening access to renewable energy and reducing carbon emissions in communities across the United States. This impact is particularly significant for low- to middle-income households and historically disadvantaged communities, who often face barriers to accessing solar energy. Approximately 22% percent of Arcadia's community solar subscribers qualify as low or moderate income households.

The 2 GW mark also highlights the effectiveness of Arcadia's industry-leading technology — which has streamlined the process for customers, made terms more user-friendly, increased transparency, and notably lowered risk for project developers and investors. Arcadia's approach of delivering guaranteed savings without any financial risk to customers, along with its inclusive subscription policy irrespective of credit scores, has set the industry standard.

"Arcadia's success over the last decade proves strong customer demand for community solar. We're committed to expanding the market, increasing capacity in current programs, and exploring new states. This way, consumers across the nation can access solar's economic advantages and contribute to cleaner, local energy," said Bhatraju.

For more information about Arcadia and its community solar initiatives, please visit arcadia.com/community-solar.

Are you a solar developer interested in partnering with Arcadia? Reach out here.

About Arcadia

Arcadia is a climate technology company connecting the clean energy future. Founded in 2014 on the belief that everyone deserves access to clean energy, Arcadia manages the nation's largest community solar portfolio, helping to tackle energy injustice while spurring economic growth with more than 2.0 GW of solar under management. For more, visit Arcadia.com or check out this mini-documentary on CBSNews.com.

Media Contact: Chris Phillbrook, [email protected]

SOURCE Arcadia