IKEA has announced that it will begin selling residential solar panels at its stores in the United Kingdom, an initial step in its plan to make renewable energy mainstream worldwide.The furniture company started offering solar panels in its store in Southampton this week and plans to sell them at all 17 of its UK stores within the next 10 months.A standard, all-black 3.36 kilowatt system for a semi-detached home will cost 5,700 British pounds ($9,200 USD) and will include an in-store consultation and design service as well as installation, maintenance and energy monitoring service, The Associated Press reports.
IKEA has announced that it will begin selling residential solar panels at its stores in the United Kingdom, an initial step in its plan to make renewable energy mainstream worldwide.
The furniture company started offering solar panels in its store in Southampton this week and plans to sell them at all 17 of its UK stores within the next 10 months.
A standard, all-black 3.36 kilowatt system for a semi-detached home will cost 5,700 British pounds ($9,200 USD) and will include an in-store consultation and design service as well as installation, maintenance and energy monitoring service, The Associated Press reports.
"In the past few years the prices on solar panels have dropped, so it's a really good price now," IKEA's Chief Sustainability Officer Steve Howard told AP. "It's the right time to go for the consumers."
IKEA says the solar panels will pay for themselves in roughly seven years for an average UK homeowner.
While U.S. retailers the Home Depot and Lowe's already sell solar panels, in other countries access to solar panels is limited.
IKEA says it aims to launch the solar offering in other countries eventually. It elected to use the UK as its test market because it has the right mix of mid-level electricity prices and government-sponsored financial incentives that make investing in solar energy attractive to consumers.
Expansion will be determined market-by-market, the company says.
In the UK, the government offers private solar panel owners the opportunity to sell back electricity to the grid on days when they have surplus production and has a financing plan for solar power investments. This means residents can buy a system for no upfront cost and pay it off gradually.
In 2012, IKEA, along with Walmart, Costco, Kohls and Macy’s, were named the U.S. companies with the most on-site solar power by the Solar Energy Industries Association (SEIA) and the Vote Solar Initiative. IKEA has set the goal of using renewables to produce 100 percent of its energy needs by 2020.
Published Oct 2, 2013 12am EDT / 9pm PDT / 5am BST / 6am CEST
Managing Director, Sustainability & Social Impact
Deutsche Bank
Mike Hower is a sustainability communicator and connector committed to helping purpose-driven businesses and people unlock their full potential for positive impact. As founder and principal consultant at Hower Impact, he works with companies to translate sustainability strategy into stories that inform, engage and inspire investors, customers, employees, regulators and other stakeholders in the service of social, environmental and business goals. Through his Impact Hired initiative, he works to connect and engage corporate sustainability professionals at all stages of their careers.
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