Type: Direct Debt or Equity, High Impact Investments
Topic: Renewable Energy, Technology
Status: Current
Arcadia’s digital solution helps lower income homeowners and renters power their homes with renewable energy.
Investment
$2 million direct equity investment; originated in 2018
Rationale
Arcadia is a digital utility, available in all 50 states. It offers a frictionless process for consumers to access renewable energy; customers that are often ignored by renewable energy companies and utility programs. Arcadia customers can easily opt in and change anytime they like—no long-term contracts or up-front payments. In addition, Arcadia provides customers a suite of energy efficiency products and a streamlined billing process.
Returns
Company has increased in value through several equity rounds. Arcadia’s ability to build new community solar gardens for its customers has exceeded our expectations.
Lessons Learned
Arcadia is successfully building a national network of clean energy customers across both regulated and deregulated markets. Such groups are fundamental to future advocacy for a clean climate future. Our grantmaking staff has also appreciated commercial insights gleaned from Arcadia’s business and regulatory staff.
Photo Credit: Arcadia.
Disclaimer of Endorsement: The McKnight Foundation does not endorse or recommend any commercial products, processes, or service providers.
Last updated 10/2021