IKEA Turning Renewable Energy Supplier In Sweden

• IKEA will sell certified solar and wind energy to residential energy users in Sweden
• It plans to charge SEK 39 per month with a variable cost per kWh, without surcharge or lock-in period for the clean energy sold
• Customers that have bought solar panels from IKEA will also be able to track their production through an app
• Excess electricity can be sold through the app as well; wind and solar energy will be supplied from facilities that aren't older than 5 years

Sweden headquartered global home furniture retailer IKEA has announced it will supply certified solar and wind energy for affordable rates to residential customers in Sweden, a move that would make it a renewable energy seller. It will sell electricity at a fixed monthly cost of SEK 39 ($4.47) per month with a variable cost per kWh, without surcharge or lock-in period.

Through the Clean Energy Services offer, IKEA will enable people to use an app to track their own electricity usage and since the company also sells solar panels manufactured by Svea Solar, its buyers can also track their own production in the app and sell the energy they don't require through the app.

All electricity under the offer will be produced by plants that have been operational since a maximum of 5 years, which would ensure the customers can see from where their electricity comes from and also ensure the solar and wind energy market in Sweden will expand with the growing demand.

IKEA said it wants to build the biggest renewable energy movement to tackle climate change with other stakeholders. "Providing solar and wind power at a low price to more people feels like the natural next step on our sustainability journey," said Sales Manager of IKEA Sweden, Bojan Stupar.

IKEA's holding company Ingka Group has pledged to become a 100% renewable energy powered business across the value chain by 2025 as part of the global RE100 initiative (see IKEA Owner To Produce More RE Than Needed).

In June 2021, IKEA Foundation said it will launch a $1 billion fund for distributed renewable energy in emerging economies in 2021 with The Rockefeller Foundation (see $1 Billion Partnership For Distributed Renewable Energy).