Swedish chain Ikea, most famous for its flat-pack furniture, has announced plans to start selling solar panels across all of its UK stores.
Following a trial at its Lakeside store, Ikea will be rolling the sale of solar panels to all branches in Britain over the next 10 months.
How much will Ikea solar panels be?
The panels themselves will be thin-film photovolatic models made by Chinese company Hanenergy. Prices will start at £5,700 for a 3.36 kWh system, which will include an initial consultation, 18 panels, installation and maintenance.
You can find out more about the types of solar panels and how they work in our guide to buying solar panels.
Ikea’s research suggests that solar panel owners could earn up to £768 a year, which would come from a combination of the savings they will make on their energy bills as well as earnings through the feed-in-tariff scheme, an incentive by the government aimed at encouraging people to generate their own energy. Ikea estimates that consumers would make the cost of the panels back within seven years.
Is it worth investing in solar panels?
We don’t know what criteria Ikea used to calculate the figures they are suggesting, but as all homes vary, such as in the amount of sunlight they get per day, we recommend working it out for your own home.
At present, solar panel owners are paid 14.90p for every kWh of the electricity they generate through the feed-in-tariff scheme. In addition, they will receive 4.64p for every kWh of electricity they don’t use, which is therefore exported to the national grid.
Using the Energy Savings Trust online solar energy calculator, we worked out that for a house in Birmingham, with an Energy Performance Certificate (EPC) rating of D or above, the homeowner could make around £569 a year.*
Over 20 years, this equates to £11,380. With initial costs of £5,700 as Ikea suggests, this means it would take 10 years to cover the cost of the panels, and for the next 10 years the customer would be in profit.
If you’re thinking of getting solar panels, it’s always a good idea to do some calculations beforehand, to decide if they’d be a worthwhile investment for you. You can take a look at our page on whether solar panels are a good investment to help you decide.
- See our guide on how to buy solar panels
- Find out more about feed-in-tariff savings and earnings
- Confused? Check out our solar panel jargon buster
*We based our calculations on a 3.36 kWh solar PV system, fitted on a fully south-facing house in Birmingham, as this is central to the UK, with an EPC rating of D or above and monthly electricity bills of £35.