Market Overview

IKEA to Sell Solar Panels Manufactured by Hanergy from all UK Stores

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IKEA, the world's biggest furniture retailer, is to sell solar panels at its British stores, the first time it has offered the devices and marking an attempt to tap growth in the heavily subsidized green energy market.The Sweden-based company, best known for cheap basics such as its Billy bookcases and…IKEA, the world's biggest furniture retailer, is to sell solar panels at its British stores, the first time it has offered the devices and marking an attempt to tap growth in the heavily subsidized green energy market.The Sweden-based company, best known for cheap basics such as its Billy bookcases and Ektorp sofas, plans to offer solar panel packages at all of its 17 British stores within the next 10 months.It said the move follows a successful pilot project at its Lakeside store to the east of London, which sells one photovoltaic (PV) system almost every day.Britain offers subsidies to encourage the takeup of PV panels - which harness the power of sunlight and transform it into electricity - in a bid to boost greener energy production and help it meet legally-binding targets to cut carbon emissions.A solar panel owner receives subsidies for generating solar-sourced electricity as well as exporting excess power into the grid. An average semi-detached house with a south-facing roof would earn as much as 770 pounds ($1,200) a year through subsidies and savings on energy bills, an IKEA case study showed.IKEA's offer of panels made by

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