Sunsave, the UK’s first FCA-authorised solar subscription service, has raised £113m to accelerate its rollout of rooftop solar across England and Wales.
The round comprises £13m in Series A equity funding co-led by Norrsken VC and IPGL, alongside a £100m debt facility from Crédit Agricole CIB to continue scaling their rapidly growing solar subscription service.
The aim is to help 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.
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.
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.
“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,” said co-founder and CEO Alick Dru.
“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.”
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Co-founder and COO Ben Graves added: “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.”
Agate Freimane, general partner at Norrsken VC said: “Sunsave has cracked the code on making affordable solar a reality for the mainstream, removing the upfront cost that’s 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.”