IKEA, the world’s biggest furniture brand, is branching out into selling renewable energy to households, starting with home market Sweden in September.
Ingka Group, the owner of most IKEA stores worldwide, said households would be able to buy affordable renewable electricity from solar and wind parks, and track their usage through an app.
Ingka’s partner Svea Solar, which produces solar panels for IKEA, will buy the electricity on the Nordic power exchange Nord Pool (NASDAQ:POOL) and resell it without surcharge. Households will pay a fixed monthly fee plus a variable rate.
