Ikea layout of new energy

Ikea will deploy an indoor solar system in the U.S. this fall, putting it in competition with Tesla in the future.

Ikea plans to partner with SunPower To launch its home solar program, which will begin in California, the U.S. home solar hub, which accounts for 40 percent of the U.S. solar market.

Javier Quinones, CEO and head of sustainability at IKEA, said the project will enable more people to monitor and control their energy needs, with the goal of providing clean energy services in more areas in the future.

While Ikea is mum on installation details or, most importantly, price, the consumer Affairs Bureau says the average cost of installing a solar panel in the United States, after federal taxes, is about $12,000.

Ikea layout of new energy

The new plan also means ikea will become a direct competitor to Tesla. The U.S. residential solar market is estimated to be worth about $9.1 billion in 2020, according to Grand View Research, and is expected to grow over the next decade. A CNBC report also noted that Tesla accounted for only about 2 percent of the residential solar market as of last fall.

In March, Solar Industry magazine ranked Tesla fourth in the United States, behind SunPower. Tesla and SunPower focus on different solar products. The former uses all-black Solar cells to replace the existing Roof, known as a Solar Roof, while the latter installs conventional Solar modules on the Roof.

The US residential solar market has recently faced some challenges due to the impact of COVID-19 on the supply chain. Tesla's latest earnings report, for example, said solar installations almost halved at the start of the year because of import delays.

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