Solar panels from IKEA

IKEA Solar
28 April 2016

IKEA are branching out from flat pack furniture and soft furnishings. Not only are they offering a typically minimal bicycle, they're also going to be offering everyone solar panels.

For starters, people who shop at the IKEA in Glasgow, Birmingham and Lakeside will be able to buy these. By the end of summer, they'll be available in all the stores in the UK.

"Obviously the climate has been changing in the past year in the UK but, nonetheless, our research showed a third of homeowners would really like to invest in solar, and the majority of those are driven by the opportunity to save money," said Joanna Yarrow, who is the head of sustainability at IKEA UK and Ireland.

"Even though the feed-in tariff rate has come down, you're still going to get a 6% rate of return on a solar installation, you're not going to get that return on an ISA."

The government have cut funding when it comes to solar panels on people's houses, but IKEA are clearly not deterred by that notion.

According to their own research, IKEA found that of the third of their customers who wanted solar power, 60% of them wanted it so they could save money on electricity bills.

IKEA have gone into partnership with SolarCentury, and the retailer thinks that panels would be installed within six weeks of first inquiry.

Of course, IKEA have tried this before, teaming up with a Chinese company called Hanergy. That didn't work so well, but the new company isn't as troubled as the last lot.

This new IKEA deal will see them selling polycrystalline and monocrystalline panels, which is what the market want.

Could be a winner.

TOPICS:   UK News   High Street News

1 comment

  • Monkeyhanger

    With an ISA you'll still have your money and be making 3%. Making 6% on a solar investment means you wait 14 years just to get your money back through the tariff. Will the electricity savings be enough to cover missed ISA interest and the cost of a couple of inverters or transformers?

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