Even as it charges up production for its first mainstream electric car – the Model 3 – Tesla, Inc. (TSLA​) is already facing competition on other fronts. Swedish furniture maker IKEA became the latest unlikely competitor for Tesla after a recent announcement that it would retail battery storage power packs in the United Kingdom at a price cheaper than that for Tesla's Powerwall series. The storage packs are made by Solarcentury, the U.K.'s largest solar company.

IKEA's battery packs will begin retailing for 3,000 pounds ($3,913). In comparison, Tesla's Powerwall series sells for approximately 5,900 pounds. The catch? IKEA's battery packs are 3.3 kWh versus Tesla Powerwall's 14 kWh. The prices mentioned above also do not take into account the installation costs for both systems. (See also: How IKEA Makes Money.)

IKEA is the first mass retailer to sell battery packs in its stores. In a video accompanying the release, IKEA stated that "sustainable living shouldn't be a luxury." Hege Saebjornsen, country sustainability manager for IKEA U.K. and Ireland, added that "there's never been a better time for customers to take back control of their electricity bills and maximize their savings by switching to solar and solar storage."

IKEA began selling solar panels in its stores in 2013. It discontinued them for a while before resuming earlier this year after reporting a 13.3% increase in sales of sustainability products. IKEA is planning to sell the batteries and solar panels together. The company claims that customers are missing out on potential 60% savings on their electric bills by installing only solar panels. (See also: Tesla Unveils Solar Roof and Next Generation of Powerwall.)

This strategy is not unlike that of Tesla. During an event last October, Tesla said that it would sell solar roofs in conjunction with its Powerwall series to become a "vertically integrated" company that offers multiple services and products, from electric cars to solar roofs and renewable energy storage batteries. Tesla and IKEA are both expected to benefit from the U.K. government's 246 million pound investment in battery technology research. According to the Secretary of State for Business, Energy and Technology, the initiative is expected to "power the automotive and energy revolution" in the U.K. (See also: Tesla Installs First Set of Solar Roofs.)

Want to learn how to invest?

Get a free 10 week email series that will teach you how to start investing.

Delivered twice a week, straight to your inbox.