Australia’s government not stopping Sydney IKEA’s renewable energy project
The world’s biggest furniture retailer, which has annual sales of €30 billion ($44 billion), is aiming to be energy neutral by 2020, with 100 per cent of its energy needs coming from renewable sources.
IKEA’s Australian business took the first steps last year, installing 16,000 solar panels on the roofs of six stores, including almost 4000 panels at its flagship store at Tempe, near Sydney Airport.
“It’s really cool,” says Wilson, who gave up his job running Randwick Council’s Sustaining Our City program almost three years ago to join the Swedish retailer, attracted to the company by its ambitious long-term environmental targets.
“When they do have bold ambitions it makes things happen,” says Wilson. “It was the 100 per cent renewable energy targets that got me excited about working for IKEA – I want to be on that journey.”
It’s a journey that may not have got off the ground if not for Labor’s now defunct carbon tax. When electricity was cheap and solar panels expensive, the business case simply did not stack up.
The company pressed ahead after the carbon tax was scrapped by the Abbott government last year and now expects to achieve payback in less than 10 years, in line with its parent’s relatively generous return on investment hurdles……….http://www.afr.com/business/energy/solar-energy/ikea-backs-renewable-energy-targets-despite-government-changes-20150717-gid4gu
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