London-based Sunsave, a solar subscription company, has secured £113M (nearly €130.54M) to expand its rooftop solar operations across England and Wales. 

The funding includes £13M in Series A equity round co-led by Norrsken VC, IPGL, and others, and a £100M debt facility from Crédit Agricole CIB.

New equity investors include Clearance Capital and early employees from Wise. Existing 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, also increased their commitments.

Agate Freimane, General Partner at Norrsken VC, says, “Sunsave has cracked the code on making affordable solar a reality for the mainstream, removing the upfront cost that has long held households back from making the switch. In just a short period of time, they’ve shown outstanding traction, solid unit economics, and secured strategic partnerships that set them apart. With the UK solar market on the brink of major growth, Sunsave is perfectly positioned to become a category-defining force in the energy transition.”

Capital utilisation

Sunsave plans to use the funds to support its solar subscription service and help British households install rooftop solar panels. The company also aims to develop a platform that combines software, hardware, and financing to support household energy use.

Alick Dru, co-founder and CEO of Sunsave, says, “Sunsave was founded in 2022 with a mission to make solar and battery storage accessible to all UK households. Since launch, our £0 upfront subscription has seen rapid adoption, helping homes save hundreds of pounds on their energy bills and make a real difference to their finances.

“This £113M fundraise is a significant milestone in our journey – it will let us meet rapidly growing demand, launch new products, and give customers peace of mind that we’ll be here to support them for the long term.”

In the future, Sunsave plans to expand into services such as EV chargers, heat pumps, and energy management software to support tariff optimisation and contribute to grid balancing.

Ben Graves, co-founder and COO, adds, “The Sunsave journey so far shows there’s massive pent-up demand for solar when you remove the biggest barrier: high upfront costs. Our customers don’t just want solar for the environmental benefits. Going solar can save you real money and help protect you from volatile energy bills.”

“This funding validates our vision of making clean energy accessible and cheap to every UK household. We’re not just selling solar panels – we’re rebuilding the relationship between households and energy, making it more affordable, sustainable, and customer-centric.”

UK’s first solar subscription

Founded in 2022 by Oxford University alumni Alick Dru and Ben Graves, Sunsave offers a subscription-based rooftop solar service designed to address a major barrier in the UK energy market: high upfront installation costs. 

While a majority of UK households express interest in solar panels, only a small portion have adopted the technology due to typical costs exceeding £10,000.

Sunsave’s subscription model, Sunsave Plus, removes upfront installation costs. Customers pay a fixed monthly fee starting at £69, with savings on energy bills beginning immediately. 

Most customers report annual savings that exceed their subscription cost, with net savings averaging over £685 per year. Fixed payments shield customers from fluctuations in energy prices.

Sunsave Plus includes the design, supply, financing, and installation of a solar and battery system customised for each home. The service also covers 20 years of monitoring, maintenance, insurance, and replacement parts. 

Customers retain full ownership of the solar system from installation, differing from lease or rent-a-roof schemes.

Growth since 2024

Since launching Sunsave Plus in January 2024, Sunsave has expanded its service across England and Wales, growing over 32 per cent month-on-month. The company claims to be the UK’s first FCA-authorised solar subscription service and operates from London with 40 employees. 

Sunsave has raised over £22M in equity funding and received £2.2M from the UK government through the Green Home Finance Accelerator (GHFA) initiative to support the launch of Sunsave Plus.

The business holds certifications from MCS, Flexi-Orb, EPVS, HIES, NAPIT, and TrustMark.