Solar energy startup secures £113 million in Series A funding, aiming to expand solar panel and battery storage availability nationwide
Sunsave, a UK-based energy startup founded by Oxford alumni Alick Dru and Ben Graves in 2022, has announced plans to expand its solar subscription service across England and Wales, aiming to make rooftop solar accessible and affordable for British households[1][2][4]. The company recently raised £113 million in funding, which includes £13 million in Series A equity and a £100 million debt facility[1].
The funding, provided by investors such as Norrsken VC, IPGL, Clearance Capital, and early employees from fintech unicorn Wise, will be used to evolve Sunsave into a full-stack home energy platform[1][2][3]. This transformation will go beyond solar panels, integrating electric vehicle (EV) chargers, heat pumps, and advanced smart home energy management software[1][2].
Sunsave's primary offering is a solar power subscription service called Sunsave Plus. This service eliminates the significant upfront costs for homeowners, offering a subscription starting at around £69 per month, which includes design, supply, installation, 20 years of monitoring, maintenance, replacement parts, and insurance[2][3][4]. Customers own the system from day one and can expect monthly savings to often exceed subscription payments[2][3][4].
The expansion plan includes the rollout of new home energy solutions such as EV chargers, heat pumps, and advanced smart energy tools, creating the UK’s first all-in-one hardware, software, and finance platform for home energy based on a subscription model[1][2]. This approach aims to cut household energy bills, offer price predictability, and increase access to clean energy at scale[1][2][3][4].
In addition, homeowners retain 100% of the income generated from selling excess energy back to the grid with Sunsave Plus[2]. The long-term ambition of Sunsave is to become the UK's first all-in-one home energy platform, helping households to become increasingly energy self-sufficient and enable them to participate in balancing the national grid[1][2].
Since launching its subscription service in January 2024, Sunsave has seen rapid adoption, reporting over 32% month-on-month growth[4]. The funding will enable Sunsave to meet the rapidly growing demand for its Sunsave Plus service in the UK[4].
Sunsave's expansion comes as the UK government looks to reduce carbon emissions and transition to renewable energy sources. The company's innovative approach to home energy consumption is expected to play a significant role in achieving these goals[1].
[1] - https://www.sunsave.co.uk/press-releases [2] - https://www.businessgreen.com/bg/news/3729214/sunsave-raises-113m-to-expand-solar-subscription-service-across-uk [3] - https://www.rechargenews.com/energy-storage/solar/954691/sunsave-raises-113m-to-expand-solar-subscriptions-in-uk [4] - https://www.greenbiz.com/article/uk-startup-sunsave-raises-113m-expand-solar-subscriptions-uk-homes
- As part of the transformation, Sunsave aims to integrate advanced technology into their platform, including electric vehicle chargers and smart home energy management software, bridging the gap between science, environmental-science, and technology.
- With the expansion of Sunsave's solar subscription service across England and Wales, they hope to foster a more sustainable future by making clean energy solutions such as solar panels, heat pumps, and EV chargers more accessible and affordable for British households, promoting a shift towards renewable energy sources.
