The Government Service Insurance System (GSIS) has been getting strong demand for its Ginhawa Solar Energy Loan (GSEL), recording over 1,200 applications worth nearly PHP 400 million (USD 7.2 million) within 24 hours of launch.

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The loan is for government employees to reduce electricity costs while promoting renewable energy adoption. It is aligned with Executive Order 110, the Unified Package for Livelihoods, Industry, Food and Transport.

GSIS president and general manager Wick Veloso said the initiative translates national policy into member benefits.

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“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,” Veloso said.

“We are encouraged by the initial response and remain committed to delivering programs that align with national priorities and directly benefit our members.”

Eligible members can borrow up to PHP 500,000 (USD 9,000) for residential solar systems. The loan carries a 5 per cent interest rate and is repayable over five years in 60 equal monthly instalments.

A PHP 500,000 (USD 9,000) loan results in a monthly amortisation of PHP 10,416.67 (USD 187.50). Applications are processed through the GSIS Touch mobile application.

Solar systems financed under the scheme include three years of insurance coverage against earthquakes, fire, lightning, and typhoons, activated upon proof of installation.

The programme is open to government employees with at least three years of service, including permanent, regular and non-career staff.

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