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Ikea launches solar panel battery storage that could cut household electricity bills by hundreds Ikea launches solar panel battery storage that could cut household electricity bills by hundreds
(about 2 hours later)
Ikea said it would start selling batteries for rooftop solar panels in the latest sign that once-costly storage technologies are becoming mainstream. Ikea said it would start selling batteries for rooftop solar panels which could save consumers hundreds of pounds on their electricity bills.
The Solar Battery Storage system was announced in partnership with UK panel provider Solar Century on Wednesday, providing potential savings on electricity bills by enabling users to use stored solar power when the sun is down and power grid costs are high. Storage technologies which allow customers to use the electricity created by solar panels when the sun isn't shining have been prohibitively expensive in the past and are seen as one of the key obstacles for solar power to overcome.
The news came after the Government set out last month to help energy consumers and industries save as much as £40bn on their electricity bills by opening the grid to battery storage devices. The company said its new product could save each household up to £560 per year on its electricity bills, when compared to traditional supply. Using solar panels alone, without storage, can save up to £380 per year, Ikea said on Wednesday.
There is a big up-front cost of £6,925 for the solar panel and battery kit but the company estimates that customers will make their money back over 12 years.
The new solar system is being produced in partnership with UK panel provider Solar Century.
The news comes after UK consumers have been hit by another round of utility price hikes. 
On Tuesday, British Gas owner Centrica announced a 12.5 per cent rise in electricity prices, defying a government pledge to lower costs.
SSE, Npower, ScottishPower business and EON have all increased prices in 2017.
Last month, the Government set out plans to help energy consumers and industries save as much as £40bn on their electricity bills by opening the grid to battery storage devices.
The cost of lithium-ion cells used in batteries have already fallen 73 per cent since 2010 and more price declines are expected.The cost of lithium-ion cells used in batteries have already fallen 73 per cent since 2010 and more price declines are expected.
A solar panel and battery storage kit from Ikea would cost from £6,925, that would be returned over 12 years, according to the statement by IKEA on its website. “With energy bills already going up 15 per cent this year, there’s never been a better time for customers to take back control of their electricity bills and maximise their savings by switching to solar and solar storage,” said Hege Saebjornsen, sustainability manager for Ikea UK & Ireland, according to the statement.
“With energy bills already going up 15 per cent this year, there’s never been a better time for customers to take back control of their electricity bills and maximize their savings by switching to solar and solar storage,” said Hege Saebjornsen, sustainability manager for Ikea UK & Ireland, according to the statement. Additional reporting by Bloomberg
British Gas owner Centrica on Tuesday hit UK households with a 12.5 per cent rise in electricity prices, defying a government pledge to lower costs. SSE, Npower, ScottishPower business and EON have all announced price increase since the start of the year.
Bloomberg