Arcadia Expands Community Solar Leadership with Acquisition of iSolar

Acquisition accelerates Arcadia's mission to provide access to affordable, clean energy for everyone, with a focus on low-income and small business customers

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Arcadia

Nov 02, 2021, 08:00 ET

WASHINGTON, Nov. 2, 2021 /PRNewswire/ -- Arcadia, the technology company empowering energy innovators and consumers to fight the climate crisis, today announced the acquisition of iSolar, the country's largest direct sales channel for community solar. The acquisition brings together iSolar's expansive, nationwide sales network and Arcadia's portfolio of five terawatt-hours of residential and commercial energy demand, further broadening Arcadia's position as the nation's leading manager of community solar assets and subscriptions.

For the two-thirds of Americans who don't have the ability to install rooftop solar panels due to renting their home or the upfront cost of the panels, community solar creates the opportunity to access cleaner, cheaper, local energy. Arcadia's technology has helped to remove barriers such as credit score requirements or "lock-in" contracts to ensure equitable access for all customers, including in communities with predominantly low- to moderate-income (LMI) households. Now, with iSolar's proven success in raising awareness and engaging all communities, Arcadia will be able to accelerate LMI consumers' participation in community solar, bringing them guaranteed savings and a cleaner, local power supply. iSolar adds residential and commercial direct sales to Arcadia's sophisticated digital in-house customer acquisition capabilities, bringing Arcadia's solar developer partners even more confidence about developing new projects and ensuring that demand for cheaper, cleaner energy continues to drive the expansion of community solar investment and policy.

"The largest obstacle to widespread adoption of community solar is awareness, particularly among low-income communities and small businesses that have the most to gain from lower energy costs and a cleaner environment," said Kiran Bhatraju, Arcadia founder and CEO. "Together, iSolar and Arcadia will bring an even larger audience to the benefits of community solar regardless of income, credit score, or housing type - all in support of our mission to provide access to affordable, clean energy for all."

"Arcadia's impact on the growth of and access to community solar is unprecedented. We're thrilled to be joining the industry leader and applying our unparalleled network and direct sales experience to the challenge of bringing affordable clean energy to everyone," said Jay Green, CEO of iSolar.

Arcadia's acquisition of iSolar comes on the heels of the Biden Administration's announcement that community solar systems will power the equivalent of five million households by 2025 and the Arcadia policy team's successful advocacy to expand community solar programs in Maine and Rhode Island. Most recently, Arcadia has partnered with Distributed Solar Development to expand community solar in Maryland and New York.

To learn more about the iSolar announcement and Arcadia's community solar expansion, please visit the Arcadia Blog.

ABOUT ARCADIA

Arcadia is a climate crisis-fighting technology company founded in 2014 and born out of a simple idea—everyone deserves access to clean energy. But two-thirds of Americans can't take advantage of rooftop solar. At Arcadia, we're building technology to connect consumers and businesses with local solar farms to provide all the benefits of solar with none of the hassle. Arcadia's community solar program manages more than five Terawatt-hours of residential and commercial energy demand and is the largest manager of community solar assets in the country. Join us in our mission and find out how you or your business can help achieve the vision of a 100% clean energy future at www.arcadia.com.

CONTACT: Thomas Meyer, [email protected]

SOURCE Arcadia