Ikea enters UK solar power and storage market

IKEA storefront

Swedish retail giant Ikea has announced its entry into the solar panel and home storage battery system market in the UK.

Their products include panels that integrate with existing roofing solutions provided by Solarcentury, a UK solar power company. Pricing starts at $4,000.
IKEA
The battery storage component can work with the solar panel offerings provided by Ikea and Solarcentury, but are also offered standalone as add-ons for existing home solar installations.à‚ 

Ikea is trying to make the process uncomplicated, which is in keeping with its broader mission. The home furnishings retailer says it’ll provide potential customers with everything they need to go solar as quickly as possible including a free quotation, a home survey, quotation approval and final installation.

The storage involves lithium-ion batteries from LG Chem, coming in 3.3-kilowatt-hour and 6.5-kilowatt-hour combinations.à‚ 

Ikea is trying to make the process uncomplicated, which is in keeping with its broader mission. The home furnishings retailer says it’ll provide potential customers with everything they need to go solar as quickly as possible including a free quotation, a home survey, quotation approval and final installation.

The Swedish company estimates the systems will save homeowners up to à‚£560 ($741) per year, or about 67 per cent more than the savings from solar panels alone, allowing for a 12-year payback for a typical customer, or a 6 percent annual return on investment.à‚ 

The economics of Ikea’s offer are similar to those that have driven a boom in residential solar-storage systems in Germanyà‚ — the differential between the feed-in tariff rates that solar systems earn for power exported to the grid, and the retail rates that customers pay for grid electricity.

Most solar-equipped homes only use about 40 percent of the power their panels generate, saving a typical home about à‚£380 in the first year, Ikea estimated. Adding a battery that can boost that self-consumption proportion to 80 percent of a home’s power draw could increase that first-year savings to as much as à‚£560 — nearly as much as the average annual household electricity bill of à‚£584.à‚ 

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