Share it Please
focuses more on the historical context of Sonnet 29, rather than straight content analysis. It expounds on Shakespeare’s feelings of inadequacy and self-consciousness (rather than the speaker's)—specifically about Edmund Spenser. Considering Shakespeare’s life, it’s likely he wrote this sonnet romantically for another man.
On the other hand, the speaker talks about the addressee's "sweet love" as if it's some kind of religious experience in lines 10-12. It appears that the speaker is no longer in a state of spiritual despair by the end, but he doesn't seem to give God credit for it because the speaker doesn't say that God has put him in a better mood. The speaker avoids saying God's name (he uses the word "heaven"). He says that thinking about "thee" makes him happy, so perhaps "thee" could act as a representation for some sort of personal spirituality or salvation.
Still, there isn’t enough information given to determine the "thee" in this sonnet, so it’s up to the reader to decide.