J.P. Morgan Leads $200 Million Investment in Arcadia’s Clean-Energy Platform
By Julian Spector
When Arcadia launched in 2014, it had a simple purpose: to help residents power their lives with clean energy. It accomplished this by getting permission from customers to access their utility bills and then matching them with the renewable power sources that suited them best.
The startup moved on from renewable energy credits to overseeing signups for community solar projects — a money-saving source of clean energy for people who can’t put solar panels on their own roofs. Arcadia has since signed up customers for 700 megawatts’ worth of community solar.
Now the company is pursuing a bigger vision. It’s done the grueling work of translating datasets from hundreds of electric utilities into one digital platform, called Arc. The goal is to help customers access even more clean-energy services by inviting other companies to use its datasets — still with permission from customers — so they can customize their offerings.
Photo courtesy of andreas160578.