THE Government Service Insurance System (GSIS) has released P10.18 billion under its Ginhawa Solar Energy Loan program as demand for residential solar installations continued to grow.
GSIS said it had received 66,233 loan applications worth P19.81 billion as of Nov. 11.
Of the total, P10.12 billion had already been credited, while P57.17 million had been granted and P87.37 million remained under processing.
“Imagine reducing your monthly electricity bill from P7,000 to just P300,” GSIS President and General Manager Jose Arnulfo “Wick” A. Veloso said.
He said the program helps government workers and pensioners lower electricity costs while supporting the shift toward cleaner energy sources.
The loan facility finances the installation of solar energy systems for qualified GSIS members and pensioners. — Aaron Michael C. Sy