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Ikea to start selling solar panels at UK stores

Ikea is set to start selling solar panels at all of its stores in the UK, a first for the Swedish furniture retailer as it looks to capitalize on a growing trend in green energy.

Ikea to start selling solar panels at UK stores

Following a successful pilot project selling photovoltaic systems at a store near London, Ikea plans to expand solar panel sales to all 17 of its stores across Britain, the Reuters news agency reported.

“We want to inspire and enable you to live a more sustainable life at home by offering products and services that will help you to save money, waste and energy,” reads an Ikea website marketing the solar panels.

“We are also strongly committed to investing in renewable energy and ‘energy-efficient’ technology to help tackle climate change.”

The move is also meant to help UK residents take advantage of green energy subsidies meant to encourage more sustainable energy production and help meet carbon emissions targets.

Ikea estimates that homeowners could save as much as $1,200 per year through subsidies and lower energy bills.

While the British solar panel market is relatively small compared to Germany and Spain, it’s growing steadily with Reuters reporting year-on-year growth of home installations up 25 percent so far this year.

The Swedish furniture giant has billed itself a champion of clean energy, vowing to have 100 percent of its own energy needs met by wind and solar power by 2020.

TT/The Local/dl

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BUSINESS

France’s EDF hails €10billion profit, despite huge UK nuclear charge

French energy giant EDF has unveiled net profit of €10billion and cut its massive debt by increasing nuclear production after problems forced some plants offline.

France's EDF hails €10billion profit, despite huge UK nuclear charge

EDF hailed an “exceptional” year after its loss of €17.9billion in 2022.

Sales slipped 2.6 percent to €139.7billion , but the group managed to slice debt by €10billion euros to €54.4billion.

EDF said however that it had booked a €12.9 billion depreciation linked to difficulties at its Hinkley Point nuclear plant in Britain.

The charge includes €11.2 billion for Hinkley Point assets and €1.7billion at its British subsidiary, EDF Energy, the group explained.

EDF announced last month a fresh delay and additional costs for the giant project hit by repeated cost overruns.

“The year was marked by many events, in particular by the recovery of production and the company’s mobilisation around production recovery,” CEO Luc Remont told reporters.

EDF put its strong showing down to a strong operational performance, notably a significant increase in nuclear generation in France at a time of historically high prices.

That followed a drop in nuclear output in France in 2022. The group had to deal with stress corrosion problems at some reactors while also facing government orders to limit price rises.

The French reactors last year produced around 320.4 TWh, in the upper range of expectations.

Nuclear production had slid back in 2022 to 279 TWh, its lowest level in three decades, because of the corrosion problems and maintenance changes after
the Covid-19 pandemic.

Hinkley Point C is one of a small number of European Pressurised Reactors (EPRs) worldwide, an EDF-led design that has been plagued by cost overruns
running into billions of euros and years of construction delays.

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