Sunsave, the UK’s first FCA-authorised solar subscription service, has raised £113 million to accelerate its rollout of rooftop solar across England and Wales and save households hundreds of pounds each year. The round comprises £13 million in Series A equity funding co-led by Norrsken VC and IPGL, alongside a £100 million debt facility from Crédit Agricole CIB to continue scaling their rapidly growing solar subscription service, helping tens of thousands of British households install rooftop solar panels over the coming years.
The company’s long-term vision is to be the UK’s first all-in-one home energy platform, bringing software, hardware and financing together to save households money and make them more energy self-sufficient. Over time, Sunsave will use the funding to expand its subscription service into complementary services, including EV chargers, heat pumps, and software to help customers save more by optimising their tariffs and helping to balance the grid.
New investors in the equity round include Clearance Capital and early employees from Wise, with returning investors Lord Michael Spencer (founder of ICAP), Lord Stuart Rose (Non-Executive Director, and former Chairman of Asda) and Roland Rudd (founder and Chairman of FGS Global). The round was pre-empted and oversubscribed, with all major investors following on or increasing their stakes.
Founded in 2022 by Oxford University alumni Alick Dru and Ben Graves, Sunsave fills a critical gap in the market: while 70% of UK households would consider installing solar panels, only 5% have adopted them due to the upfront cost typically exceeding £10,000.
Named 14th fastest-growing UK startup by Sifted earlier this year, Sunsave has grown over 32% month-on-month since launching its subscription service, Sunsave Plus, in January 2024.
Sunsave’s subscription model removes all upfront costs, meaning customers save money on their energy bills from day one with fixed monthly payments, beginning at £69 per month.
Sunsave has already rolled out solar panels to homes across England and Wales. Households with Sunsave Plus have seen net savings of over £685 a year on their energy bills, with most customers’ savings exceeding their subscription cost. With Sunsave Plus, customers are saving from day one, and their fixed monthly payments means they’re protected from long-term energy price volatility.
Unlike most other financed solar options, such as ‘Rent-a-roof’ schemes or lease models, Sunsave Plus customers have full ownership of their system from the moment it’s installed.
Sunsave Plus includes the design, supply, financing and installation of a solar and battery system tailored to each home, with 20 years of monitoring, maintenance, replacement parts, and insurance included.
