Amid the protracted energy crisis, public demand for solar financing applications surged to ₱5.7 billion, accounting for more than two-fifths of the total budget that the Government Service Insurance System (GSIS) has set aside for this financing segment.

As of April 21, the state pension fund has recorded a “strong response” to its Ginhawa Solar Energy Loan (GSEL) program, reflecting a growing need among members for “practical ways to manage household expenses” amid the rising energy costs.

The initiative, with a total budget of ₱12.5 billion, is intended to support renewable energy adoption by helping reduce upfront costs.

GSIS President and General Manager Wick Veloso stressed the program’s primary objective of financial relief.

“Through GSEL, we are helping our members take control of their electricity costs by giving them access to financing for solar panels,” Veloso said, noting that while the environmental impact is a benefit, “for many families, the immediate value is the savings it can bring month after month.”

The loan terms are structured to remain affordable, allowing qualified members to borrow up to ₱500,000 at a five percent annual interest rate, spread over 60 months.

This package includes a maximum monthly amortization of around ₱10,400 and provides three years of free insurance for the installed panels.

To qualify, applicants must be active members with at least three years of government service and no loans in default. In a move toward modernization, applications are “accepted exclusively through the GSIS Touch mobile app.” (Derco Rosal)