In short: Arcadia Power has announced that it is partnering with Amazon on a new Smart Home Device subscription service, which will have Amazon experts come and install smart home devices in your home, and instead of paying for it all upfront, you'll be paying for it monthly. There are two bundles right now. the Home Efficiency Bundle – Basic which is $0 upfront and $20 per month for 36 months. This includes the ecobee smart thermostat, three smart LED bulbs, an Amazon Echo Dot, four WiFi-enabled smart plugs, all installed by an Amazon Expert. Then there is the Home Efficiency Bundle – Plus which is also $0 upfront, but $36 per month for 36 months, and this includes everything listed above, as well as a Ring Video Doorbell and the Amazon Echo Show.
Background: This is a brilliant idea from Arcadia Power for a number of reasons. Firstly because smart home devices are not cheap. And if you were to outfit your home with a number of smart home devices, it would cost hundreds if not thousands of dollars. So this is a good way to get more people into the smart home space, and really help grow the industry.
Impact: After the 36 months, those who have subscribed to these plans will own those devices. So it's similar to financing your smartphone through your carrier. Now 36 months does seem like a pretty long time to pay for these things, especially when Amazon is updating its Echo devices about every year now. But the good thing with these smart home devices is that the hardware doesn't need to be updated every few years. So that companies are able to push out updates to these products every so often, and bring new features to existing hardware, which is actually a pretty big deal. You can learn more about Arcadia Power at the link down below.