Sunsave Raises £113 Million to Scale Solar Subscriptions for UK Homes

In a significant vote of confidence for clean energy innovation, Sunsave, the UK’s first FCA-authorised solar subscription provider, has raised a massive £113 million to turbocharge the rollout of rooftop solar across England and Wales. The funding includes £13 million in Series A equity led by Norrsken VC and IPGL, plus a £100 million debt facility from Crédit Agricole CIB to support customer installations directly.

Founded in 2022 by Oxford alumni Alick Dru and Ben Graves, Sunsave set out to close a stubborn gap in the UK solar market. Despite 70% of UK households showing interest in installing solar panels, only around 5% have done so, primarily because of prohibitively high upfront costs, which often exceed £10,000.

That’s where Sunsave Plus comes in. Launched in January 2024, the subscription-based service enables households to have solar and battery systems installed with no upfront cost, resulting in savings from the very first day. Monthly growth has surged by over 32%, and early adopters are already seeing significant financial benefits, saving more than £685 annually on average, with most customers pocketing more in savings than they pay through the subscription.

But Sunsave’s model isn’t just financially savvy, it’s also designed to be consumer-friendly. Unlike traditional lease or rent-a-roof schemes, Sunsave Plus gives homeowners full ownership of their systems from day one. The service bundles together everything: personalised system design, supply, installation, financing, plus 20 years of monitoring, maintenance, replacement parts, and insurance.

Alick Dru, co-founder and CEO of Sunsave, shared: 

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.

Ben Graves, co-founder and COO of Sunsave, noted that the company’s progress highlights the strong demand for solar energy once the main obstacle, high upfront costs, is eliminated:

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.

The round drew backing from new and notable names, including Clearance Capital and early employees from Wise, while heavyweight returning investors, such as Lord Michael Spencer (founder of ICAP), Lord Stuart Rose (former Chairman of Asda), and Roland Rudd (founder of FGS Global), also doubled down. The raise was oversubscribed, with major investors increasing their stakes, reflecting a strong belief in Sunsave’s market traction and long-term potential.

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.

Jérôme Michel, Managing Director at Crédit Agricole CIB, expressed enthusiasm for backing Sunsave in its goal to make solar energy more accessible to households across the UK:

This £100m private securitisation warehouse, structured by our Distributed Generation franchise that combines Project Finance and Securitisation team members, will support the rollout of Sunsave’s first-of-its-kind solar subscription model to tens of thousands of households, underlining our commitment to the green transition.

Sunsave’s vision extends far beyond rooftop solar. With this funding, the company plans to expand into EV chargers, heat pumps, and innovative energy software that can optimise home energy usage, reduce tariffs, and even contribute to national grid balancing. The endgame? To become the UK’s first fully integrated home energy platform, blending hardware, software, and financing into a seamless, cost-saving experience for millions of households.