Sunsave Secures £113Million Funding To Scale Solar Services

Founded in 2022 by Oxford grads Alick Dru and Ben Graves, Sunsave tackles a big problem—70% of UK households are interested in solar panels, but only 5% have them due to high upfront costs (over £10,000).

To solve this, Sunsave launched Sunsave Plus in January 2024. It’s a no-upfront-cost subscription that lets people start saving immediately, with fixed monthly payments. The company is growing fast—over 32% each month.

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With Sunsave Plus, most households save more than £685 a year. The service includes everything: system design, equipment, installation, financing, and 20 years of maintenance, insurance, and support. Unlike lease or ‘rent-a-roof’ models, customers own their solar system from day one.

Sunsave is helping families cut bills and reduce their carbon footprint—without the heavy upfront investment.

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, said the company’s growth shows that once the biggest barrier—high upfront costs—is removed, demand for solar energy quickly follows.

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 company has raised £13 million in Series A equity funding, led by Norrsken VC and IPGL. It also secured a £100 million debt facility from Crédit Agricole CIB to grow its solar subscription service, which helps thousands of UK households install rooftop solar panels.

New investors include Clearance Capital and early employees from Wise. Existing backers like Lord Michael Spencer (founder of ICAP), Lord Stuart Rose (former Asda Chairman), and Roland Rudd (Chairman of FGS Global) also joined in. The round was oversubscribed, with all major investors increasing or maintaining their stakes.

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, shared his excitement about supporting Sunsave in its mission to make solar energy more accessible for UK households.

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

Sunsave aims to become the UK’s first all-in-one home energy platform, bringing together software, hardware, and financing to help households cut costs and boost energy independence.

With the new funding, the company plans to go beyond solar subscriptions by adding services like EV chargers, heat pumps, and smart software to manage energy tariffs and support grid balancing.