Will I Save Money With Arcadia Power
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Can Arcadia assistance you lot save money on your electric bill? Is the company legit? And can you get clean energy cheaper than the price you're paying today?
I signed upwardly to see what the company offers and put together this Arcadia review to answer my ain (and readers') common questions.
Arcadia provides a simple manner to help increment the demand for renewable energy while potentially saving you lot coin. Their community solar plan, bachelor in 7 states, saves you up to ten% off standard utility rates past applying solar credits to your bill for no extra toll. Residents who don't live in a state that supports community solar tin join their air current energy plan — for a $5 per-month fee — and effectively cancel out their carbon footprint. So, while the service has the potential to relieve you coin, most people will pay slightly more to back up a good crusade.
Pros:
- Residents of certain states can save upwards to 10% off their electric bill at no extra cost.
- Increases the overall demand for renewable energy.
- New users tin get $xx off their next utility bill.
Cons:
- Does not ship renewable free energy direct to your home.
- You tin can only salvage coin if you live in a state that is uniform with Arcadia's community solar programme.
What Is Arcadia?
Arcadia (formerly known as "Arcadia Power") is a company that gives consumers throughout the country the ability to support clean, renewable energy sources — such as those provided by solar panels and wind farms.
Arcadia has a somewhat unique — and at first, hard to understand — business model. It doesn't assist that many Arcadia reviews online are outdated and that Arcadia has switched up its pricing models quite oft over the past few years.
So, to help clear things upward, let's get over some key facts about Arcadia.
- Beginning things first: Arcadia is not a ability company or an energy supplier. They practise not produce or sell electricity.
- As an Arcadia customer, you are not getting green energy sent directly to your home. That'south incommunicable, considering all free energy sources — whether from fossil fuels or clean power — get pushed to the same power grid, mixed, and distributed evenly via power lines.
- What you lot're effectively doing as an Arcadia customer is increasing the demand for renewable energy.
- Arcadia has two offerings. Starting time, their community solar membership saves you up to ten% off your total bill with no start-upwardly costs or contracts. Savings depend on your utility provider, in addition to factors similar weather. However, this is only available in vii states. Their wind free energy membership (which is bachelor everywhere else) charges a flat $5 per month fee. This fee allows your energy consumption to exist matched with Renewable Free energy Credits purchased from wind farms. This increases the amount of clean power your local utility company has access to and, theoretically, also increases the long-term need for renewable energy sources.
Arcadia Community Solar Projects Overview
If you're eligible for a community solar project, you can sign up through Arcadia at no cost. This doesn't hateful you're consuming make clean energy. Rather, it ways that more than clean energy is flowing into your local power grid.
In one case yous're signed up, you'll then pay your utility bill through Arcadia. Yous'll get a monthly bill credit (applied to the amount you pay Arcadia), which corresponds to the local solar farm's amount of energy. This can range from month to calendar month based on the atmospheric condition. Arcadia then guarantees that your pecker will exist lower than what you would otherwise pay directly to your utility provider (betwixt 5% to ten% due to these credits).
So how does Arcadia make money?
Community solar farms pay Arcadia to find people like you who are interested in supporting clean free energy to put on their farms. Plus, community solar farms tin often generate more than a 10% savings by supplying the ability grid with clean energy.
For example, according to citizenscommunityobard.com, in Illinois (the state where I alive), some customs solar companies offer upwards to a twenty% savings. Every bit such, it's worthwhile to look for other community solar programs where you may exist able to potentially save more money than past going through Arcadia.
This potential v-ten% savings is by far the almost intriguing attribute of Arcadia. Unfortunately, it's but available in a select few states, and there's simply a limited number of energy providers inside those locations.
As of the most contempo update of this article, Arcadia customs solar programs are available to select residents of:
- Colorado
- Illinois
- Maryland
- Maine
- Massachusetts
- New York
- Rhode Island
We update this commodity periodically throughout the twelvemonth to add together whatever states that become newly eligible for the program.
Arcadia Renewable Wind (RECs) Program Overview
For those who alive outside of a community solar land, joining Arcadia allows you to increase the overall need for renewable power by using something chosen Renewable Energy Credits.
We'll affect on those in a minute. Merely commencement, information technology'southward essential to understand why the company doesn't physically supply yous with electricity from a renewable energy source.
In curt, there'southward no style for them to do so because all sources of ability — coal, nuclear, current of air, solar and natural gas — eventually end upwardly mixed in the same identify: the national power grid.
This energy may be derived from different sources, merely it all looks and functions the same.
For example, at that place'south no style to tell the difference betwixt wind energy and coal energy.
One time energy is pumped into the grid, it gets distributed to individual homes and businesses.
And right now, only nigh twenty% of the total energy that goes into the grid comes from renewable sources.
Arcadia's goal is to increment that figure.
Only effectually 20% of our energy comes from renewable sources because it'due south more than expensive to produce (although this is irresolute fast, equally renewable energy is condign cheaper). And that makes it more plush to eat.
In the long-term, clean energy will be much more toll-effective. Just that's non until we have the infrastructure to generate and store it. And what'south going to help create that infrastructure is consumers enervating make clean free energy.
Renewable Energy Credits (also known as Renewable Energy Certificates or RECs) are a way for people and businesses to subsidize renewable energy generation by paying extra for their electricity.
How RECs Work
Every time an energy provider produces one megawatt-hour of clean energy — such as a wind farm or solar panel — they get one renewable energy certificate.
That renewable energy certificate (a unique serial number) can then be sold.
This allows the buyer to signify that their coin directly supported make clean energy instead of fossil fuels. It will enable the producer to sell their clean energy into the grid at more competitive rates.
In other words, RECs are a style to distinguish between the types of energy that get pumped into the filigree. They allow yous to choose to pay for one type of free energy over another. And past doing and so, you can claim to "use" clean energy.
Long-term, as a consumer, the goal is to increase the demand for this blazon of energy by making it more cost-competitive with so-called muddied power.
Arcadia essentially acts every bit an energy broker, identifying and partnering specifically with wind farms and utility companies by purchasing RECs.
Once y'all're signed up for the program, Arcadia will show you the verbal amount of wind credits they're purchasing on your behalf (and demonstrated in the screenshot below, from my Arcadia account).
So, as an Arcadia customer, you'll notwithstanding be using the same electricity company and power source y'all were using before y'all signed up. Just those current of air farm RECs allow you to finer cancel out your carbon footprint and back up renewable energy projects.
Thus, Arcadia gives ordinary citizens a way to make a positive environmental impact without taking more expensive and hard steps similar installing their own solar panels.
Arcadia Membership Options
Arcadia has two separate membership plans, which differ based on whether you have access to their community solar program.
If you lot have access to community solar, you pay nothing upfront and are not required to sign a contract.
However, the $five per month wind energy programme is what most customers will observe themselves in.
With this programme, you lot're paying a apartment fee of $5 per month to Arcadia to ensure that 100% of your energy use is matched with clean energy. At that place is no surcharge assessed based on your electricity usage — information technology's just a apartment $5.
With both plans, you lot no longer pay your utility company direct. Instead, Arcadia substantially takes over the management of your electric business relationship. You'll link your energy provider account to your Arcadia account so pay Arcadia your electricity nib plus the $v membership fee.
Is Arcadia More Expensive?
It depends. This answer tin can be yes or no.
Arcadia'south customs solar program is a guaranteed savings production. You're not charged to bring together, there are no contracts, and you become guaranteed savings off your beak — likely between v% and 10%.
Those on the air current free energy program pay a $5 per-calendar month fee. The amount of energy y'all utilise volition "retire" RECs purchased from air current farms on your behalf for this fee. No credits are applied to your bill. In this case, you volition pay more by signing up for Arcadia.
How Does Arcadia Make Money?
Arcadia charges you a monthly fee of $5 per month with a xxx-day complimentary trial; while a portion of the fee is used to purchase RECs, Arcadia does operate as a for-profit business organisation.
Arcadia also generates revenue through:
- Earning money by connecting you to community solar ability projects.
- Sales of products they partner with, like the Nest thermostat.
Arcadia Pros And Cons
Like any other service, there are skillful things and non-and then-good things about Arcadia.
Arcadia Pros
- Community solar members get a guaranteed savings off their utility neb of upwards to 10%.
- It'due south a inexpensive manner to make a difference compared to ownership your own solar power panels. Y'all'll (indirectly) reduce your carbon footprint and help lower CO2 emissions.
- Information technology gives you an easy-to-meet dashboard. The tools bachelor in your Arcadia Power utility account are lite years ahead of those provided by nigh local utility companies. If yous're an online blazon of person who loves using cut-edge tools, this will be a great perk for you.
- Information technology can salvage you on credit carte transaction fees. A lot of utility companies accuse fees to customers who pay their beak with credit cards. That can be a nuisance for people who like the ease of paying with credit cards. If you lot have a greenbacks-back credit carte, or are trying to earn a credit card bonus, y'all tin can earn money dorsum for paying your power nib with your card every month (assuming y'all're on the wind energy program).
- It'south free to cancel. Yous won't be locked into a long-term contract or have to pay a fee if you alter your listen about the membership.
Arcadia Cons
- You're non getting clean energy delivered to your dwelling, just instead, increasing the overall demand for clean energy indirectly.
- If you're on the air current energy programme, they only offer auto-pay options. If y'all're cutting information technology close on having enough in your bank account to pay your utility bill, y'all tin delay your automobile payment with a three-mean solar day grace period. The bad thing is that you accept to have extra steps to do so.
Is Arcadia Legit?
If you're worried virtually doing business with a wing-by-night visitor, yous can relax. Arcadia is a legit company with a solid four.9 rating on Trustpilot. Terminal reported in 2019, they accept over 300,000 members. In May of 2022, J.P. Morgan led a $200 meg investment round, valuing the company at $1.v billion.
Arcadia Review: Final Verdict
Should you join Arcadia? That depends on you lot, your personal values and your individual situation.
If you're fortunate plenty to live in one of the states where customs solar is offered, joining Arcadia is a win-win conclusion. Not only will you save a few dollars per month, but fifty-fifty better, you'll be saving while simultaneously supporting clean free energy.
Though I would make sure to store effectually to meet if a different customs solar provider can save you more money.
If you lot're not in a community solar land, then the decision is more than difficult.
If y'all care securely virtually cutting your carbon footprint and have the room in your budget to potentially pay a footling more equally a regular member, then consider the $v per-month air current energy program.
I'm a large fan of the concept behind Arcadia, and capeesh the opportunity to back up wind power, solar farms and other green energy projects over fossil fuel plants that pump CO2 emissions into the temper and contribute to climate change.
Visit Arcadia.com.
Source: https://www.thewaystowealth.com/reviews/arcadia-power-review/
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