UK’s Sunsave Secures £113M to Expand Nation’s First Solar Subscription Platform

UK-based Sunsave, the first solar subscription service authorized by the Financial Conduct Authority (FCA), has raised £113 million to scale its operations across England and Wales, helping households reduce energy costs and accelerate solar adoption.

Founded in 2022 by Oxford University alumni Alick Dru and Ben Graves, Sunsave aims to close a major gap in the UK solar market. While 70% of households express interest in installing solar panels, only 5% have done so, with initial costs exceeding £10,000 often cited as the primary barrier.

To tackle this issue, the company launched Sunsave Plus in January 2024, a subscription service offering zero upfront cost. Since its debut, Sunsave has grown rapidly, recording monthly growth above 32%. Customers benefit from immediate energy savings and fixed monthly payments, avoiding unpredictable electricity costs.

On average, Sunsave Plus users save over £685 per year, with many seeing savings that surpass their subscription fees. The model differs from traditional leasing or “rent-a-roof” approaches by granting full ownership of the solar system from day one. The package includes system design, supply, financing, installation, and 20 years of ongoing support, including monitoring, maintenance, parts replacement, and insurance.

“This £113 million fundraising is a transformative milestone for us,” said Alick Dru, Sunsave’s co-founder and CEO. “Our £0 upfront model is enabling households to take control of their energy bills, and this capital will help us meet rising demand, introduce new offerings, and ensure long-term support for our customers.”

Ben Graves, co-founder and COO, emphasized that affordability is key: “Removing the upfront cost unlocks solar for more households. It’s not just about going green—it’s about saving real money and gaining energy security.”

The funding round includes £13 million in Series A equity, co-led by Norrsken VC and IPGL, and a £100 million debt facility from Crédit Agricole CIB to help Sunsave install rooftop solar systems for tens of thousands of homes in the coming years.

Additional equity investors include Clearance Capital and early employees from Wise, with continued backing from Lord Michael Spencer, Lord Stuart Rose, and Roland Rudd. The round was oversubscribed, with existing investors increasing their commitments.

Agate Freimane, General Partner at Norrsken VC, praised Sunsave’s innovation: “They’ve solved the affordability challenge that has blocked solar adoption in the UK. Their traction, solid economics, and strategic positioning make them a standout in a market primed for exponential growth.”

Jérôme Michel, Managing Director at Crédit Agricole CIB, highlighted the significance of the deal: “Our £100 million structured facility supports Sunsave’s pioneering subscription model and underscores our commitment to accelerating the green energy transition.”