IKEA starts selling solar panels for homes
- 01 October 2013
LONDON: IKEA has chosen the UK to launch the sale of solar systems in its stores. The Swedish retailer will start selling solar panels at all 17 of its UK stores within the next ten months.
Commenting on the reasons for choosing UK as a test market Steve Howard, IKEA's Chief Sustainability Officer, told the AP that the UK's solar market has "the right combination of mid-level electricity prices and government-sponsored financial incentives that make investing in solar energy attractive to consumers."
In the UK, homeowners can buy a solar system without upfront costs, as they can get a loan from the government and get paid for sending excess energy to the grid.
According to estimations of the company the prices in the UK have dropped to the point where the payback period is only seven years. "If you are going to be in your house that long, your energy will be free after seven years," Steve Howard added.
IKEA plans to extend the sale of solar panels worldwide, but will make the decision of where it goes next market by market.
IKEA uses green energy for its own operational needs as well. Currently, the company gets 27% of its electricity from renewable energy and its commitment is to be 100% powered by renewables by 2020.
By Maria Mateeeva
Image by Gary Watson