Ikea puts solar panels on stores

TORONTO, ONTARIO - Ikea is putting solar panels on the roofs of three of its Ontario locations in what is believed to be the largest solar rooftop installation by a Canadian retailer.

Power produced by the panels will be fed back into the Ontario energy grid under the province's Feed-in Tariff Program, which allows small energy producers to sell power produced by renewable energy sources.

The panels, on the rooftops of Ikea's Etobicoke, North York and Vaughan locations, will produce 960,000 kilowatt-hours of renewable energy each year. That's enough to power about 100 homes.

"The rooftop solar installations solidify Ikea's longstanding commitment to environmental responsibility and sustainability," said Ikea Canada president Kerri Molinaro.

Installing 3,790 solar panels on the three Ontario stores is costing Ikea about $4.6 million.

The Feed-in Tariff Program pays 71.3 cents per kilowatt-hour, meaning the company can potentially recoup about $684,000 per year for selling the energy.

The FIT program was introduced by the Ontario government last year and pays a premium for energy produced by renewable sources.

"In its first year, the McGuinty government's Feed-in Tariff Program has made great strides in creating a renewable energy landscape across Ontario," said provincial Energy Minister Brad Duguid.

"Ikea Canada is another great example of how our Green Energy Act is engaging businesses and building a cleaner electricity system for future generations."

Ikea is planning to install solar installations on 150 of its stores worldwide.