World's largest retailer of furniture IKEA has started producing solar panels, with the first of its products being sold in the UK. This latest product line is in partnership with China's Hanergy Holding Group Ltd., a clean energy company engaged in solar projects, which also happen to be the largest thin-film solar manufacturers in the world.

Renowned for simple, functional, and eco-friendly architectural designs for a various styles of furniture and appliances, IKEA solar power has extended its business to furnishing more than the home by producing and distributing solar panels; it even has a system, designed in-store, for a consumer's home. IKEA aims to make solar panels more affordable and mainstream.

Earlier this year, IKEA Australia also made news headlines by partnering with Canadian Solar, in a further display of the company's commitment to going green. Canadian Solar will be responsible for the installation of several solar systems in IKEA locations across New South Wales, Queensland and Victoria. The project is estimated to generate enough clean energy to offset around 4,000 tonnes of CO2 each year.

No Middle Men Mark-Up
An IKEA-conducted study revealed that most consumers are put off, more than any other factor, by the cost of solar panels. This prompted the company to offer IKEA solar power panel installation in full but at prices which do not have the mark-up of middle men. Reportedly, an IKEA full installation for the home using their solar panels will cost US$9,106 or 5,700 pounds.

Far from being just another commercial solar panel manufacturer, IKEA has mentioned, through the company's Head of Sustainability in the UK, Joanna Yarrow, their dedication to expansion of sustainable products which are able to help their customers conserve energy and water and sort out waste by the year 2020.

Recouping an Investment in (Only) Seven Years
Installation of the IKEA solar power panels will allow more people to reduce the cost of their electricity bills by half, as well as recoup their investment on the panels in as early as seven years. Considering that these panels have the longevity of two decades, seven years is a short time to acquire the return on investment or ROI for solar projects such as these.

The Swedish furniture retail giant now owns renewable energy sources such as wind turbines (157, of which 96 are currently in operation) that has a 345MW capacity rating. IKEA solar power companies have also installed a total of 90MW of 550,000 panels as of this date.

Formidable U.S. Consumer Market Numbers
IKEA's numbers in the U.S. consumer market are formidable as well. IKEA's $150 million investment in photovoltaic (PV) systems has made it the number two largest private owner of a commercial solar property.

Even as the company is developing a heat and cool type of commercial solar system in Kansas City, Kansas, IKEA has 44 locations in the U.S., 39 of which have solar arrays. The portfolio will have a total of 38MW with the completion of four solar installations before 2014's end.

Manageable Risks in Any Investment
According to IKEA's Steve Howard, Chief Sustainability Officer, the company's entry into commercial solar panel manufacturing and distribution is a long term investment that can be very good, with the risks involved as manageable, inasmuch as any investment will always have risks.

IKEA has managed to isolate itself from the tendencies of electric power grid markets to be volatile by investing in solar projects that can be likened to green hedge funds, which can allow the company to forecast future operating costs for energy accurately.

For more information and facts regarding solar energy, click here.