Strategy

I – Localization of Renewable Electricity Generation and Consumption

The renewable electricity should be generated within the same electricity pricing area or country as they are consumed.

II – Financing the Expansion and Upgrade of Renewable Electricity Capacity

The electricity consumption should finance more renewable electricity generating capacity connected to the grid. This means actions to directly invest or sign power purchase agreements with renewable electricity generators to develop new installations or re-power existing installations, e. G. Replacing existing wind turbines with more efficient ones in an existing wind farm.

III – 24/7 Matching of Renewable Electricity Generation and Consumption

The generated renewable electricity should match the consumption every day and every hour (so called 24/7matching). This is achieved by actively balancing the renewable electricity generation with consumption loads overtime, including using storage and demand side response. It is recognized that this is a developing agenda and the share of hours matched per year should be first monitored and then gradually increased year by year.

IV – Prioritizing Low-Impact Renewable Energy Sources for a Sustainable Planet

Minimize negative impact on people and planet: the generated renewable electricity should primarily come from wind power (on- or off-shore) and secondarily solar power. Hydropower from new or large-scale installations should be avoided, especially in tropical and sub-tropical regions due to it’s potentially large emission of greenhouse gas emissions ( in addition to effects on communities and ecosystems). Other renewable energy sources need to be handled case-by-casein line with the IKEA guidance on energy sources.