IKEA Sells Solar Panels in British Stores
IKEA, the world’s largest furniture store, announced today that it would be selling solar panels in the U.K, according to an article posted on Reuters’ website. This is the first time that IKEA has offered solar panels for sale.
IKEA currently plans to offer solar panels at all seventeen of its U.K. stores within the next ten months. At a minimum price of 5,700 pounds ($9,200), the solar panel package includes 18 panels in addition to in-store consultation, installation, and panel maintenance. At current energy rates and subsidies, it is expected that the solar panels will pay for themselves within seven years.
Chinese company Hanergy Holding Group Ltd was commissioned to produce the panels. “We know that our customers want to live more sustainably and we hope working with Hanergy to make solar panels affordable and easily available helps them do just that,” said Joanna Yarrow, head of sustainability in the UK and Ireland for IKEA.
The solar panels were piloted at IKEA’s Lakeside store in the east of London. The panels were enormously popular among customers; on average one photovoltaic system was sold almost every day. Although Britain’s solar market is small when compared to Germany and Spain, the country has posted regular growth in recent years.
In Britain, a solar panel owner receives subsidies both for generating solar electricity and releasing excess power back into the grid. The United States has similar subsidies to encourage solar panel use to increase its renewable energy production and bring it closer to meeting legally-binding targets to cut carbon emissions. Solar panels harness the power of the sun by absorbing sunlight to create electricity. They are touted by environmentalists as an affordable and efficient source of renewable energy.
The Chanler Group is actively engaged in the review and analysis of incentive-based renewable energy programs to determine potential benefits to our clients. Global energy consumption continues to increase each year and, with this increase, the demand for safe, clean, and unlimited energy is on the rise. The Federal and State governments promote this interest through a variety of financially-beneficial incentives. Our understanding of these laws allows us to guide homeowners, businesses, and/or developers through the various ways to take advantage of these incentive-based benefits. With the appreciation that renewable energy laws and regulations are constantly changing, The Chanler Group is committed to investing in its understanding and practice of this area of law.