After injecting $4.8 billion into going green by 2030, IKEA announced plans to start selling renewable energy to households in Sweden by September. The world’s biggest furniture brand hopes to expand this offer to other countries in the future.
Ingka Group, which owns IKEA stores worldwide, is promising affordable renewable energy from solar and wind. Those who choose to buy electricity from IKEA will be charged a monthly fee and can track their energy usage through a specially dedicated app.
Customers will also be able to buy solar panels from IKEA, which it already sells to households in nearly a dozen markets, and even sell back their surplus electricity to the furniture giant.
IKEA’s partner Svea Solar manufactures the panels and will be the one purchasing the electricity on the Nordic power exchange Nord Pool before reselling it without a surcharge. In an effort to promote new renewable energy generators, the energy will come from wind and solar farms that are not older than 5 years.
These are far from being the only eco-friendly plans and strategies at IKEA. A few months ago, IKEA Canada announced a plan for zero-emission by 2025.
With moves like these, the highly popular retailer cemented its reputation as a brand fully dedicated to environmental protection and green energy despite the coronavirus-ridden world economy.
The brand survived the initial corona shock, and even though it reported losses last year, it quickly got back on the growth track by selling diverse quality home office desks, kitchens, and chairs once the lockdowns were lifted.
Ranked as the seventh biggest retailer in the world, IKEA has ambitions to build the world’s biggest renewable energy movement with help from its partners and consumers. What’s more, officials confirm that this is the first step towards entering the energy markets in every country where the brand has stores. Currently, that’s about 52 countries.
