Commercial, Demand Management, Energy Procurement, Energy Storage  -  August 3, 2017

IKEA offers solar energy storage to UK customers

IKEA has announced plans to roll out a whole new offering to homeowners: Energy storage.

Through a new solar battery storage system under development in the by IKEA in the U.K., homeowners with solar energy systems will be able to store their own excess power. The Swedish retailer said in an Aug. 2 news release that the system will allow those with existing solar panel systems, or those interested in installing a new system in combination with the battery storage system, to use more of the electricity generated by the panels, improving the economics of the solar investment.

The creators of the solar battery storage system estimate that it could allow homeowners with solar installations to double the amount of solar electricity they can use from their system to 80% and cut their electricity bills by 70%.

“An average solar home in the U.K. will typically consume around 40% of all the solar electricity generated, or even less if they are regularly out during the day,” IKEA said in the release. “The remaining 60% of unused solar electricity is sent back to the national grid, at a loss compared to its value. This means that homeowners currently lose out on making further cost savings.”

IKEA hopes the new storage technology will offer a solution to this problem.

Battery storage is increasing in popularity within the U.K. energy market following a government plan to invest 246 million British pounds in battery technology, IKEA said.

According to a report on IKEA’s battery project by Bloomberg, Centrica Plc increased U.K. household electricity prices Aug. 1 by 12.5% despite a commitment by the British government that costs would be lowered. Price increases such as this has homeowners and corporations searching for innovative ways to lower their electricity costs on their own.

“At IKEA we’re always looking for ways to help customers take positive actions at home for both the environment and their wallets,” Hege Saebjornsen, country sustainability manager for IKEA UK & Ireland, said in a statement. “With energy bills already going up 15% this year, there’s never been a better time for customers to take back control of their electricity bills and maximize their savings by switching to solar and solar storage.”

IKEA partnered with London-based solar company Solarcentury for this project. According to IKEA, prices for the battery storage systems will start from 3,000 British pounds as the project develops.

Share this valuable information with your colleagues using the buttons below: