Sustainable products boost profitsEthical Business News & Features
This week, home furnishing retailer IKEA announced total sales of £1.411 billion in the UK for the financial year ending 31 August 2014, an increase of 11.3% on the previous year, following a year that focused on helping British households to live a more sustainable life at home.
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The company invested in the promotion of a range of 300 products designed to help its customers save energy, reduce and sort waste, use less water and, importantly, save money. The result was a 29% uplift in sales of these products over the year.
IKEA launched its affordable residential solar offer in September 2013, in partnership with global solar company Hanergy. Over the last year it has rolled the scheme out across all its UK stores. IKEA considers a home solar system to be ‘one of the best investments homeowners can make today’, as it can save the average household up to 50% off their energy bills.
To date, IKEA has helped more than 1,300 households save money on their electricity bills by harnessing the power of the sun. Following this successful UK pilot, this year the home solar offer will be extended to eight other markets, including the Netherlands and Switzerland.
‘We are determined to make sustainability accessible, affordable and attractive to as many people as possible and with home solar, the benefits are strong from day one. Following the success of the UK rollout, I am delighted that we will be able to bring those benefits to customers in the Netherlands and Switzerland.’
Håkan Nordkvist, head of sustainability innovation, IKEA Group
Hanergy’s solar systems have recently been made available in the Netherlands and will reach Switzerland in December. The offer, which includes full installation and warranties, has allowed more people to invest in solar when it was previously out of their reach.
‘Solar energy is now one of the best ways for families to live sustainably, while making a sound financial investment. We are thrilled to be able to offer affordable solar energy through our partnership with IKEA to more and more people, as we make residential solar panels available in the Netherlands and Switzerland.’
Toby Ferenczi, Hanergy Solar UK CEO
For more information on IKEA’s solar offering, including how to check your roof for solar, arrange a verification survey, design a system for your home and choose whether to buy or finance your solar installation, visit ikea.com.