• 1 day PDVSA Booted From Caribbean Terminal Over Unpaid Bills
  • 1 day Russia Warns Ukraine Against Recovering Oil Off The Coast Of Crimea
  • 1 day Syrian Rebels Relinquish Control Of Major Gas Field
  • 1 day Schlumberger Warns Of Moderating Investment In North America
  • 1 day Oil Prices Set For Weekly Loss As Profit Taking Trumps Mideast Tensions
  • 2 days Energy Regulators Look To Guard Grid From Cyberattacks
  • 2 days Mexico Says OPEC Has Not Approached It For Deal Extension
  • 2 days New Video Game Targets Oil Infrastructure
  • 2 days Shell Restarts Bonny Light Exports
  • 2 days Russia’s Rosneft To Take Majority In Kurdish Oil Pipeline
  • 2 days Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 2 days British Utility Companies Brace For Major Reforms
  • 2 days Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 2 days Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 3 days Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 3 days OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 3 days London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 3 days Rosneft Signs $400M Deal With Kurdistan
  • 3 days Kinder Morgan Warns About Trans Mountain Delays
  • 3 days India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 3 days Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 3 days Russia, Saudis Team Up To Boost Fracking Tech
  • 4 days Conflicting News Spurs Doubt On Aramco IPO
  • 4 days Exxon Starts Production At New Refinery In Texas
  • 4 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 4 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 5 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 5 days China To Take 5% Of Rosneft’s Output In New Deal
  • 5 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 5 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 5 days VW Fails To Secure Critical Commodity For EVs
  • 5 days Enbridge Pipeline Expansion Finally Approved
  • 5 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 5 days OPEC Oil Deal Compliance Falls To 86%
  • 5 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 5 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 6 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 6 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 6 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 6 days Aramco Says No Plans To Shelve IPO
Are Oil Markets Becoming Immune To Geopolitical Risk?

Are Oil Markets Becoming Immune To Geopolitical Risk?

The geopolitical risk premium in…

James Burgess

James Burgess

James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…

More Info

IKEA will Begin Selling Solar Panels at all UK Stores within 10 Months

IKEA will Begin Selling Solar Panels at all UK Stores within 10 Months

IKEA, the Swedish flat-pack furniture specialist and world’s largest furniture retailer, has announced that it will, for the first time, sell solar panels at all of its British stores. The plan fits into IKEA’s general support of the renewable energy sector, and is an attempt to capture the growth that is steadily occurring in the UK green energy market.

After a successful test project at the Lakeside store to the east of London, which has been selling one photovoltaic system on average every day, IKEA has decided to begin offering the same solar panel package in all of its 17 stores across the country within the next 10 months.

Related article: Suntech Solar Reels as Directors Quit Over Cash Flow

Britain does not have the largest of solar markets compared with other European countries, such as Germany and Spain, but thanks to government subsidies it has grown steadily, with year on year installations increasing by 25%. In an attempt to encourage more renewable installations to boost green energy generation and help meet the country’s legally binding carbon emission targets, the UK government offers subsidies for any electricity generated by solar power, and further subsidies if excess clean energy is produced and exported to the grid.

IKEA to sell solar PV panels made by Hanergy
IKEA to sell solar PV panels made by Hanergy. (NPR)

IKEA determined that thanks to the generous subsidies, an average semi-detached house with a south facing roof could earn as much as £770 ($1,200) a year through subsidies and reduced energy bills.

IKEA has joined with Chinese thin-film PV solar manufacturer and energy utility Hanergy Holding Group Ltd, to offer a package that will include 18 solar panels for £5,700, and which should earn their cost back within seven years. As part of the package customers will also be offered an in-store consultation to explain the benefits of solar, installation, and maintenance.

Related article: Germany Proves Sunshine is not Necessary for a Booming Solar Industry

Joanna Yarrow, the head of sustainability for IKEA in the UK and Ireland, said, “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.”

IKEA is a big supporter of renewable energy, already owning several wind farms across the continent, and installing solar panels at all of its stores, warehouses, and factories. The company has set itself the ambitious target of generating at least 70% of its energy from wind and solar by 2015, and a full 100% by 2020.

By. James Burgess of Oilprice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News