Arcadia Power has created a service that allows those typically barred from installing solar panels to invest in green energy.
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Earlier in September, we wrote about a startup that uses blockchain technology to allow those who have invested in solar power to sell their green energy onto other households. We also covered this idea that sought to provide renters with the opportunity to buy solar panels, which are then installed in remotely in solar farms. Now, offering a more comprehensive solution is Arcadia Power.
The renewable energy services company offers a solar energy service for renters. The US based company offers remote “solar subscriptions” to those who want to invest in green energy but are, for whatever reason, barred from such direct investments in a solar. These might be renters, those who live in apartment block and share their roof, or even those who live in state that doesn’t support solar energy. Arcadia’s software will calculate exactly how much power a customer’s remote panels are generating, and give a corresponding credit through their utility bill. The service is also portable, for those who may not live in a house long enough to commit to a long solar lease. Kiran Bhatraju, the chief executive of Arcadia Power explains his belief in the idea’s potential, “The way we look at it, at max, only about 25 percent of Americans can ever do rooftop solar. Right now you have around 1 million rooftop solar installations, but 150 million people pay a power bill.”
The next product in the company’s pipeline is on-bill financing for energy efficient products like smart thermostats and LED lighting. How else will we see household energy efficiency incentivised?