IKEA to sell renewable energy to Swedish homes

It's already the world's biggest furniture brand, but IKEA is branching out.

It'll start selling renewable energy to households, starting with home market Sweden in September.

Ingka Group owns most IKEA stores worldwide.

It says households will be able to buy affordable renewable electricity from solar and wind parks.

And track their usage through an app.

The group's partner Svea Solar, which produces solar panels for IKEA, will buy the electricity on the Nordic power exchange and resell it without surcharge.

Households will pay a fixed monthly fee plus a variable rate.

IKEA, which also sells solar panels for households in 11 markets, said those buyers would be able to track their own production in the app and sell back surplus electricity.

Ingka said the plan was to offer electricity from solar and wind parks five years old or less, to encourage the building of more parks.

More broadly IKEA aims to be "climate positive" - reducing greenhouse gas emissions by more than is entitled emitted by the entire chain by 2030.