UK’s first subscription solar power service secures funding
Customers can hire panels and batteries through the scheme, which is authorised and regulated by the Financial Conduct Authority.
Founded in 2022 by friends Alick Dru and Ben Graves, Sunsave currently sells a range of options for solar equipment, including up front purchase and credit repayments. Now it aims to bring the UK’s first ever rolling subscription package to market.
On average, a solar energy system costs around £10,270 to install, more than double the amount in the average Briton’s savings account. By offering a long term hire solution, including monitoring, maintenance, and 20-year guarantee, the company believes those who would otherwise be outpriced will now be able to afford energy transition.
Overall, £9.2million has been raised by Sunsave through investment rounds over the past 18 months, funding product improvements and the hire of energy experts for a growing team in preparation for the launch. The company hasn’t shared a time frame for this, but packages will start from £69 per month, reducing the energy bill of a typical family home by around £540.
‘We have an enormous ambition to help the country get to net zero through revolutionising green finance and making the power of solar accessible to all UK households. This significant investment round, combined with our recent FCA approval, provide a strong platform for our mission,’ said Sunsave’s Graves.
‘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,’ added the company’s co-founder, Dru.
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Image: Sunsave