Several businesses are investing in renewable energy. For example, recently, Google has announced its plans to blow more than $2 billion in new renewable energy infrastructure. But will those companies succeed to generate more than enough energy? This news is about IKEA, a furniture retail company which anticipates it will produce more power. Being one of the largest furniture company it intends to develop a cost-effective solar energy program. Besides, the retailer hopes to provide home solar panels in stores across all markets in the upcoming six years. Even more, the furniture company has the ultimate goal to become a climate positive company and reduce carbon emissions by 2030.
Ingka Group, IKEA’s holding company, has poured $2.76 billion money in solar and wind energy systems during the past ten years. Even more, the enterprise already owns a wind park in Romania, more than 500 windmills across 14 countries. Apart from this, the firm holds 49% shares in two American solar parks. It has about a million solar panel modules on warehouses as well as stores. Ingka said; currently, it has more than 1.7GW of energy power distributed across 9,20,000 solar units. As per the group, 700,000 solar panels are being developed in the U.S.
The firm’s crucial investment makes IKEA the unique, international customer brand to have and operate its independent renewable energy facilities. On the other hand, Google, which has announced the largest renewable energy deal, will buy energy from self-reliant solar farms across the US, Europe, and Latin America. Whereas, Ingka has announced that it already produces more electricity than consumption. As per Jesper Brodin, the CEO of Ingka Group, being climate-smart is not an additional expense. He added, it is actually a smart business along with a future-perfect business model. Brodin also highlighted that Ingka intends to keep on pouring money into wind and solar farms.