Monday, 14 April 2014
Are Ikea's solar panels a good deal?
Swedish home furniture giants Ikea are to begin selling solar panels in all 18 UK based stores within 10 months, following a successful trial period, but do they offer value for money and should you even consider buying solar panels from a furniture store?
Firstly, their price of £5,700 for a 3.36kW system, which is the size for a typical semi-detached property, is expensive. Comparing prices from accredited solar installers shows that a larger 4kW system can now be installed for under £5,000, and a 3kW system for as low as £4,000. Though Ikea have to start somewhere
On the plus side the investment figures still stack up, with Ikea's smaller 3.36kW system, on a south-facing roof in Southampton, forecast to earn £770 each year from the Government Feed-in-Tariff (guaranteed for 20 years) - meaning you can recoup the cost within just 7 years.
Though installing the same size system for a lower cost from an accredited solar installer makes more sense and will give you a shorter repayment period.
From a personal opinion, Ikea are making a smart move, they have seen the Solar Panel business on the rise and must be expecting a big boom soon like the rest of us. Hence the first UK solar advert airing last week and the noise Solar has been making in the news recently