The Government Service Insurance System (GSIS) is set to launch a financing program that will allow government employees to install solar panel systems in their homes, supporting the government’s push for energy conservation amidst escalating fuel and electricity prices.

The program, called the Ginhawa Solar Energy Loan (GSEL), will allow qualified GSIS members to borrow up to PHP 500,000 to finance residential solar panel installations.

The initiative is part of a green loan program aimed at promoting renewable energy use while helping government workers reduce their household electricity costs.

Under the program, loans will carry a 5% annual interest rate, payable over five years in 60 equal monthly installments, with no service fee.

For example, a PHP 500,000 loan will have a monthly amortization of PHP 10,416.67.

Solar panel systems financed through the program will also come with three years of insurance coverage against fire, earthquake, lightning, and typhoon at no cost to the borrower.

The insurance coverage will take effect once the GSIS member notifies the agency and submits proof that the solar panel system has been installed.

The GSIS Board of Trustees has approved PHP 12.5 billion for the loan program and PHP 60 million to cover insurance for solar panel installations.

Applications will be processed entirely through the GSIS Touch mobile app, where members can upload supplier quotations, installation contracts, or official receipts for reimbursement.

Members who install solar panels may also benefit from the government’s net metering system, which allows households to sell excess electricity back to the grid and further reduce energy costs.

GSIS President and General Manager Wick Veloso said the program offers members a practical way to manage rising electricity prices.

“This loan allows our members to invest in solar energy for their homes and generate substantial savings on their electricity bills while paying it back over five years at a competitive interest rate,” Veloso said.

The GSEL will run for an initial three-year period, after which GSIS will evaluate its performance to determine whether the program should be extended.

Qualified borrowers include active GSIS members with permanent, regular, or non-career status who have been in government service for at least three years.

Could financing programs like GSIS’s solar loan accelerate rooftop solar adoption in the Philippines?

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