 launched an energy loan program for more than 1.98 million state employees.){kind=link}
IN SUPPORT OF the national government’s initiative to attain energy stability, the Government Service Insurance System (GSIS) launched an energy loan program for more than 1.98 million state employees.
Dubbed as Ginhawa Solar Energy Loan (GSEL), the program is primarily designed to promote renewable energy adoption, reduce electricity costs and help ensure energy stability for government personnel.
According to GSIS president and general manager Jose Arnulfo Veloso, the program is attuned to the objectives of Executive Order 110, which adopts a whole-of-government response under the Unified Package for Livelihoods, Industry, Food and Transport (UPLIFT) to address energy challenges, protect sectors and sustain economic activity.
“By translating national policy into a practical, member-centered program, (we) will enable (our) members to shift to cleaner and more reliable energy sources while easing household expenses,” said Veloso even as he expressed optimism in the program’s success with the positive response from GSIS members.
In less than 24 hours, he cited, the program recorded a strong initial response, with more than 1,200 applications amounting to almost P400 million in total loan applications, reflecting growing interest among members in renewable energy solutions.
“The rollout of the Ginhawa Solar Energy Loan is our concrete contribution to the national effort to ensure energy stability while helping our members achieve long-term savings,” he added.
“We are encouraged by the initial response and remain committed to delivering programs that align with national priorities and directly benefit our members.”
The GSEL program allows qualified members to borrow up to P500,000 to finance the installation of solar panel systems in their homes, making clean and reliable energy more accessible. Loans carry an interest rate of five percent per annum, payable over five years in 60 monthly installments.
For a P500,000 loan, the monthly amortization is P10,416.67, with no service fee charged.
Applications are processed entirely through the GSIS Touch mobile application, ensuring convenient, efficient, and uninterrupted service delivery.
Solar panel systems financed through the program come with three years of insurance coverage against earthquake, fire or lightning, and typhoon, at no additional cost upon submission of proof of completed installation.