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U.K. startupSunsavegot the FCA go - forrader this calendar week , with its proposal to provide solar panels and barrage on a subscription simulation . The Oxford - ground startup has also raised a £ 5.4 million ( $ 6.7 million ) seed round led by “ impact”-oriented VC Norrsken , as well as previous investors IPGL , Plug and Play and angel investors Stuart Rose ( chairperson of Asda ) , Michael Spencer ( founder of Nex Group / ICAP ) , Roland Rudd ( laminitis of Finsbury ) and Bill Nussey ( author of “ Freeing vigour ” ) . It ’s now raised £ 9.2 million ( $ 11.5 million ) in total in its 18 months in universe .
Sunsave is follow a trend from the U.S. and continental European companies . Enpalin Germany is a significant solar player , with six years in the marketplace and prominent gross . Enpal is backed by SoftBank , and in Juneraised$464 million in debt financing to finance its leasing business .
Then there is YC - backedSolarMentein Spain , which raise € 50 million debt and equity from PE firm GNE Finance in April .
Meanwhile in the U.S. , the manikin is slightly different , with many companies offer both solar subscriptions and leases for many years . However , the grocery is increasingly shifting to subscription , and includes large players such asSunrun , which is on the Nasdaq .
In the U.K. “ solar letting ” has been the predominant model , under the feed in duty dodge , but customer do n’t even end up have the solar panel on their own ceiling and ca n’t easily go out the letting . It ’s a stern great deal , and consumers know it . The result has been the extremely slow take - up of domestic solar in the U.K.
Thus , Sunsave seems to be following the U.S. and Continental European models — now approved by regulators — of the conciliatory , loan - based subscription model . This means the customer amply owns the arrangement and there are n’t any early repayment fee or penalty .
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The news give the axe the start gun on other subscription - based solar startups that could even practicably go on micro - grids and deal vigor back to other larger supplier .
