23 July 2019

Ikea selling China-made household solar systems, report says

Swedish retailing giant Ikea Group began selling in Southampton household solar systems made by China’s Hanergy Solar Group Ltd. (00566.HK), Sina Finance news portal reported Monday, citing the company. The retailer plans to offer the product nationwide in the United Kingdom over the next few months, the report said. The group’s chief sustainability officer Steve Howard was quoted as saying that prices of solar panels have fallen to an adequate level and that a homeowner can recover the system purchase cost in seven years through savings in electricity bills. The system costs 5,700 pounds (US$9,226), the report said, adding that Ikea will provide installation and maintenance services.

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