Marketer Offering 50% Free RECs Raises $6 Million To Expand Program
Arcadia Power, a RECs marketer which offers customers the ability to elect 50% wind power for no fee, announced that it has closed a $6 million Series A investment round led by Energy Impact Partners (EIP), with participants including prior investors BoxGroup and Wonder Ventures.
The capital raised will be used to increase Arcadia Power's utility partnerships, expand the company's community solar projects, and roll out new product offerings.
Arcadia Power offers the 50% wind power in exchange for the customer making Arcadia Power their agent for utility bill payments, with customers paying Arcadia Power, and Arcadia Power facilitating payment to the utility
Under Arcadia's terms of service, the payments facilitated by Arcadia Power may incur a fee. The fee may vary, depending upon factors, including but not limited to the utility, the payment method, and promotions run by Arcadia Power.
Arcadia Power also offers 100% wind energy under the same billing arrangement for an additional fee.