THE GOVERNMENT Service Insurance System (GSIS) said on Wednesday it will offer a financing program allowing government employees to finance their solar panel installations.
The Ginhawa Solar Energy Loan (GSEL) allows government workers to borrow up to P500,000 to install solar panel systems in their homes, the GSIS said in a statement.
The program supports the push for energy conservation as volatile fuel prices raise electricity costs due to fighting in the Persian Gulf, the GSIS said.
“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,” President and General Manager Jose Arnulfo A. Veloso said.
The GSEL charges a 5% annual interest rate, payable over five years in 60 equal monthly installments, with no service fee. Anyone taking on a P500,000 loan would have a monthly amortization bill of P10,416.67.
“Solar panel systems financed under the program will come with three years of insurance coverage against fire, earthquake, lightning, and typhoon at no cost to the borrower. The coverage takes effect once the member notifies GSIS and submits proof that installation has been completed,” GSIS said.
The state pension fund’s board of trustees approved a P12.5-billion allocation for the program, with an additional P60 million to cover insurance.
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. All applications will be processed entirely through the GSIS Touch mobile app.
To qualify for the program, GSIS members must have either a permanent, regular, or non-career status and have been in government service for at least three years.
Members installing solar panels have the option to avail of the government’s net metering system, which allows households to sell excess electricity back to the grid.
The GSIS reported net income of P138 billion in 2025, after gross revenue hit P344 billion and non-life gross premiums hit P11.4 billion. — Aaron Michael C. Sy
