We’ve raised £5.4M to launch the UK’s first solar subscription

Sunsave announcement

Last updated on 20 June 20244 min read

We are delighted to share that we’ve raised £5.4M to help us launch our revolutionary solar subscription.

More good news! We are delighted to share that we’ve raised £5.4m of funding to help us launch our revolutionary solar subscription, Sunsave Plus - the first of its kind in the UK.

We’re on a mission to make the power of solar accessible to all UK households, but there’s one huge problem: the average solar system costs £10,270, and half of UK households have less than £5,000 in savings.

That’s where solar subscriptions come in. Sunsave Plus allows homeowners to get a solar and battery system without a one-off lump sum. The best part? You’ll save on your energy bills immediately.

Not only are we making solar more accessible, we’re making it simple, too. We’ve selected the best kit in the market for you and combined it in one easy package, with a 20-year Sunsave Guarantee. This kit works seamlessly together, looks great and will last for years to come.

Who's invested in us?

The funding round was led by Norrsken, one of Europe’s top impact venture capital funds. And we’re in good company - Norssken have previously invested in other great green businesses such as:

Olio, who help people give away stuff they no longer need to others nearby
Northvolt, who produce some of the greenest storage batteries in the world
1KOMMA5, a one-stop shop for decarbonising buildings in Europe
Heart Aerospace, who are designing one of the first electric airliners.

We’ve now raised over £9.2 million in 18 months since Sunsave was founded, and our impressive list of investors now includes:

Norrsken
Plug and Play (previously invested in Paypal and Dropbox)
IPGL (previously invested in Elvie and FootBalance)
Stuart Rose, Chairman of Asda
Michael Spencer, founder of Nex Group/ICAP
Roland Rudd, Founder of Finsbury
Bill Nussey, author of Freeing Energy

You can read more about our funding round in Sky News and TechCrunch.

What do people have to say?

Agate Freimane, founding General Partner at Norrsken, said: “Sunsave’s new offering removes the biggest barrier to entry for people in the green transition: cost”.

“This FCA-approved subscription service is a gamechanger, enabling thousands more homeowners to unlock the potential of renewable, cost-efficient solar energy every year. We’re thrilled to back Alick, Ben and the team as they help build the UK’s path to a cleaner, more sustainable future”.

Our co-founder Alick, added: “We're demonstrating to UK consumers that being green doesn't have to be a choice between doing what’s right for the environment or doing what’s best for your pocket. With Sunsave’s solar subscription you can go green and save money immediately. With energy prices expected to remain elevated for the foreseeable future, this is more important than ever.”

Fully regulated

We’re now authorised and regulated by the Financial Conduct Authority (FCA) to provide solar panels and batteries on a subscription model. What’s more, we’ve also worked very closely with the FCA to develop Sunsave Plus in line with their new guidelines for ensuring good customer outcomes, Consumer Duty.

And the FCA doesn't just give the go-ahead to any old business - it takes months of rigorous checks and procedures to ensure that everything we do has the consumer’s interests at heart and is built to last.

We're here for the long term

If you’re thinking of switching to solar, it’s perfectly natural to look for businesses that are trustworthy and will stand the test of time. Fortunately there’s a whole host of reasons why we’re built to last, including our healthy backing from leading venture capital funds, our FCA regulation, our world-class team, and our industry accreditations.

The solar market has a bit of a reputation for misleading consumers, which is why we’ve made sure we have every relevant stamp of approval from the industry.

First and foremost, we’re a Which? Trusted Trader. This means the independent experts at consumer advice service Which? put us to the test and recommended us as a company you can trust.

We’ve also got accreditations from MCS, EPVS, HIES, NAPIT, TrustMark - you name it, we’ve got it.

To explain just a few:

MCS (Microgeneration Certification Scheme) means our installations are of the highest quality
EPVS (Energy Performance Validation Scheme) means all of our calculations and estimates have been checked and approved, and
HIES (Home Insulation & Energy Systems Quality Assured Contractors Scheme) means your deposit is protected and that your workmanship guarantee is upheld.

Read more about our accreditations here.

What next?

This is another big step in Sunsave’s mission to make solar accessible for everyone, but there’s a lot more still to do! We’re still working on the finishing touches and hope to roll out Sunsave Plus over the next few months.

If you’ve always wanted to switch to solar but have been put off by the costs, Sunsave Plus could help. Check out this page to learn more.

Written byCharlie Clissitt

Born in Yorkshire and now living in London, Charlie has been in the renewable energy industry since 2017, having worked as a writer and then editor of green technology advisor The Eco Experts. His work has focussed on educating UK homeowners about a wide range of residential power and heating solutions, including solar panels, storage batteries, heat pumps, infrared panels, and EV chargers.