UK solar subscription service Sunsave has raised £113 million to accelerate the rollout of its innovative Sunsave Plus offering across England and Wales. The funding comprises a £100 million debt facility from European banking giant Crédit Agricole and £13 million in Series A equity funding led by Norrsken VC and IPGL.
The capital injection will enable Sunsave to scale its market-leading solar subscription service to tens of thousands of homes, helping British households cut energy bills and transition to renewable energy without hefty upfront costs. The company’s Sunsave Plus service allows customers to make fixed monthly payments over 20 years instead of paying large installation costs upfront.
“This £113 million 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,” said CEO Alick Dru. The funding round was oversubscribed, with every major investor from previous rounds increasing their stakes, including ICAP founder Lord Michael Spencer, former Asda chairman Lord Stuart Rose, and FGS Global founder Roland Rudd.
Sunsave has demonstrated impressive growth momentum since launching Sunsave Plus in January 2024, achieving over 32% month-on-month growth. This performance led Sifted to rank the company as the 14th fastest-growing startup in the UK & Ireland, making it one of the three youngest companies on the leaderboard. Customers are already seeing substantial benefits, with households achieving net savings of over £685 per year on their energy bills.
“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,” explained COO Ben Graves. “This funding validates our vision of making clean energy accessible and cheap to every UK household.” The fixed monthly payment structure also protects customers from long-term energy price volatility.
The £100 million debt facility from Crédit Agricole will directly fund the installation of solar and battery systems across the country, while the equity funding will support new product development and market expansion. Sunsave’s offering includes comprehensive support through its 20-year guarantee, featuring 24/7 monitoring and maintenance, free battery upgrades, inverter replacements, insurance, and downtime cover.
Looking ahead, Sunsave plans to expand beyond solar panels to become the UK’s first all-in-one home energy platform. The company is developing services to include EV chargers and heat pumps, integrating software, hardware, and financing to optimize customer tariffs and usage patterns. This comprehensive approach aims to maximize household savings while accelerating the UK’s transition to clean energy independence.
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