IKEA’s $2 Billion Clean Energy Investment Plan on Schedule

(3BL Media/Justmeans) – IKEA, the second-biggest private commercial solar power user in the U.S., is on schedule with its ambitious sustainability program called “People and Planet Positive,” which was unveiled about a year ago. The program has committed more than $2 billion to investments in clean energy through 2015. The company believes this plan is in line with changing consumer aspirations for a greener lifestyle, and will also shield the company against future energy price shocks.

IKEA’s goal is to become a 100 percent renewable energy company by 2020, which means it will produce as much renewable energy as it will consume by using renewable sources such as the sun and wind. As of last year, more than a third of IKEA’s energy came from renewable sources. The company has made significant progress with regard to its sustainability goals in recent years.

Since 2010, IKEA’s efforts at energy efficiency have resulted in savings of $54 million at its stores and warehouses. Ninety percent of the company’s U.S. locations now use solar power. It has committed to own 137 wind turbines, and geothermal power installations have also begun at several locations. The company owns wind farms in six countries, and plans to roll out home solar photovoltaic systems for sale in the U.K. early this year.

IKEA has sold 12.3 million LED light bulbs and 12.1 million other products that employ LED technology, following its commitment to sell and use only LED lighting in its products. This effectively translates into savings of $9.45 for each customer in electricity costs per bulb per year, compared with incandescent bulbs. The total cost savings for its lighting customers will come to $116.1 million per year with this endeavor.

Furniture being one of the flagship products of IKEA, the company is one of the largest purchasers of wood in the world. As a major wood buyer, the company has already initiated steps in responsible wood sourcing. Nearly a third of the company’s wood in 2013 was either recycled or certified by the Forest Stewardship Council.

Source: Clean Technica

Image Credit: Flickr via Marlith