London-based Sunsave, a British energy startup, has secured €130 million in funding. Norrsken VC and IPGL co-led the €15 million Series A equity round. This capital will scale Sunsave's zero-upfront solar subscription model across England and Wales. The company aims to become the UK’s first all-in-one home energy platform.
The total funding includes a €115 million debt facility from Crédit Agricole CIB. Equity investors also include Clearance Capital, early Wise employees, Lord Michael Spencer, Lord Stuart Rose, and Roland Rudd. Sunsave, founded in 2022, addresses the high upfront cost barrier for solar panel installation.
Sunsave's Zero-Upfront Solar Model
Sunsave's core offering allows households to adopt solar power with no initial investment. Customers begin generating solar energy immediately through fixed monthly payments. This model directly tackles the market mismatch where many UK households desire solar but face costs exceeding €11,000. Unlike traditional providers like British Gas, Sunsave simplifies access.
The company also offers Sunsave Plus, a financing option for full system ownership. This includes design, installation, and 20 years of maintenance and support. Since its January 2024 launch, Sunsave Plus has seen over 32% month-on-month growth. Sunsave is the UK's only FCA-authorised solar subscription service, providing a clear path to energy independence.
Sunsave plans to expand its services beyond solar panels. Future offerings will include electric vehicle chargers, heat pumps, and smart home technology tools. These tools will optimize household energy usage and help balance the grid. This funding enables Sunsave to help tens of thousands of British homes achieve greater energy self-sufficiency, similar to innovations seen at Octopus Energy.
