ARLINGTON, Va., April 23, 2020 /PRNewswire/ -- Summit Ridge Energy (SRE) announced today a commitment to support Illinois residents facing economic uncertainty caused by the COVID-19 pandemic by offering increased savings to anyone who subscribes to an SRE community solar project through Arcadia. The contribution is an extension of Arcadia's Good Energy initiative, providing nationwide assistance for current and new members of Arcadia with their power bills.
"Every household has an energy bill that comes due each month," said Summit Ridge CEO, Steve Raeder. "SRE wants to do its part during these challenging times by providing extra financial assistance for thousands of homeowners and renters, who by signing up to do community solar projects not only reduce their electricity bill, but also help support one of the nation's most prolific job creation engines - the clean energy economy."
"Building a clean energy future is going to take all of us, and millions of households across the state are re-examining their costs," said Kiran Bhatraju, Arcadia CEO. "No one should have to worry about their utility bills right now. Lowering the barrier to entry for clean energy access has never been more important and we're grateful for Summit Ridge's contribution of additional savings for new Arcadia members who sign up for Illinois community solar."
Starting on May 1, 2020, SRE will provide a $25 credit to the first 6,000 customers that subscribe to an SRE community solar project through the Arcadia platform, adding to the significant annual savings already realized by purchasing solar bill credits.
The community solar model allows customers to receive credits generated from remotely sited photovoltaic (PV) systems, eliminating the need to install panels on a customer's residence while still providing savings.
About Summit Ridge Energy Summit Ridge Energy is a leading owner-operator of U.S. community solar projects. The team has been a strong force within the U.S. commercial solar market for years and was instrumental in the creation of "virtual" solar power purchase agreements and associated financing structures. Summit Ridge Energy has leveraged this experience to launch Summit Ridge Capital, a dedicated funding platform that acquires pre-operational projects within the rapidly growing community solar energy sector. Follow Summit Ridge Energy on LinkedIn and Twitter for updates, or learn more at srenergy.com.
About Arcadia Arcadia makes choosing clean energy easy. The only nationwide tech company focused on consumer energy, Arcadia's software manages utility accounts to bundle clean energy, energy efficiency tools, rate monitoring and more in a simplified, modern account experience. Just as fintech apps have helped users make smart financial decisions automatically, Arcadia takes the guesswork out of making better energy choices. Founded in 2014, the company's platform now integrates with more than 100 utilities in all 50 states, is the largest residential energy broker in the country, and manages the most community solar subscribers in the U.S. For more information, visit www.arcadia.com and follow us on Facebook, Twitter, and Instagram.