MANILA — Government employees may now shift to solar energy through a financing program launched by the Government Service Insurance System (GSIS), aimed at helping members reduce electricity expenses.

In a report, it said that the program, called the Ginhawa Solar Energy Loan (GSEL), allows qualified GSIS members to borrow up to P500,000 to cover the cost of installing solar panels in their homes.

GSIS President and General Manager Wick Veloso said the initiative provides a practical solution for households facing rising energy prices.

“Through GSEL, we are helping our members take control of their electricity costs by giving them access to financing for solar panels,” Veloso said.

“The shift to cleaner energy is an added benefit; for many families, the immediate value is the savings it can bring month after month,” he added.

The GSIS said the loan program is designed to help members manage energy expenses, lower monthly bills, and achieve long-term savings while also increasing property value.

As of April 21, the agency reported receiving over P5.7 billion worth of loan applications, indicating strong interest among members.

Under the program, borrowers may avail of up to P500,000 at a 5 percent annual interest rate, computed in advance, payable over five years or 60 equal monthly installments. Monthly payments may reach up to P10,416.67.

The loan may finance up to 100 percent of the total cost of solar panel systems, including equipment and installation, subject to the amount stated in supporting documents such as quotations, contracts, or official receipts.

Applications must be submitted through the GSIS Touch mobile application, where members are required to upload necessary documents and obtain certification from their agency’s authorized officer.

To qualify, applicants must be active GSIS members with at least three years of government service and at least one month of premium contributions within the last six months. They must also have no pending administrative or criminal cases, no leave without pay status, no defaulted GSIS loans—except housing loans—and must comply with net take-home pay requirements under the General Appropriations Act.

The program includes a one-time Loan Redemption Insurance, deducted upfront, which covers the loan in case of the borrower’s death.

GSIS said the initiative supports the government’s renewable energy goals while helping ease financial pressure on households. The program has a total allocation of P12.5 billion, including P60 million set aside for insurance coverage.

Borrowers may also choose to settle their loans early, while cancellations are allowed within 30 days from approval, subject to full payment of the principal and corresponding interest.