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Summit Ridge, Arcadia Power ink contract to manage Maryland, Illinois customers

Summit Ridge Energy LLC, or SRE, is partnering with Arcadia Power Inc. to sign and manage residential customers across multiple markets including Maryland and Illinois.

"Arcadia's platform effectively utilizes multiple forms of marketing and has already produced outstanding results in terms of acquiring customers to purchase bill-credits from SRE's solar fleet," Summit Ridge CEO Steve Raeder said in a Dec. 18 company news release.

SRE's community solar portfolio in Maryland and Illinois will be completed by the last quarter of 2020.

Its Illinois fleet is expected to produce enough power for 11,000 homes and save more than $500,000 yearly for its customers in Commonwealth Edison Co. and Ameren Corp. service territories. Meanwhile, its Maryland portfolio is expected to generate roughly 35 GWh per year of credits, saving more than $5 million for its customers in Baltimore Gas and Electric Co. and Pepco Holdings LLC over the next 20 years.