Officials of the Government Service Insurance System (GSIS) visited the province last week to formally introduce the Ginhawa Solar Energy Loan (GSEL) Program, which allows qualified members to borrow up to ₱500,000 for the purchase and installation of residential solar panel systems.
GSIS Senior Vice President for the Luzon Group Atty. Raquel Buensalida, together with Vice Presidcenr for South Luzon Office Rosalinda Mendoza, GSIS Legazpi Branch Manager Eugene C. Virgo, GSIS Catanduanes Extension Office Head Maria Theresa R. Vega and their team also met with Governor Patrick Alain T. Azanza, who welcomed the GSIS’ provision of an alternative energy option amid recurring power interruptions in the province.
Qualified under the GSEL program are active members under permanent and non-career status who will enjoy a low interest rate of five percent (5%) per annum computed in advance.
They can file their applications through the GSIS Touch mobile application, through which any one of the following documents must be uploaded upon application: Solar Panel Proposal/Quote, Installation Agreement/Contract, and Official Receipt for those with reimbursement.
The Solar Panel Proposal is a detailed quotation or proposal form from a solar panel installer indicating the cost of the solar panel system, installation fees, and equipment to be used, while the Installation Agreement/Contract refers to the agreement or contract signed with a solar panel installer, outlining terms of the installation, warranties, and other relevant conditions.
On the other hand, those who have already installed solar panel systems would need to upload the Official Receipt for purposes of reimbursement of expenses incurred.
The maximum P500,000 allowed under GSEL is more than enough for a residential solar PV systems.
The island’s most experienced solar installer, Bicol Solar Den, has its smallest battery-equipped, hybrid on-grid setup costing P390,000: a 6-kilowatt system intended for a home with an estimated electric bill of P6,000 to P9,000 a month.
The package, consisting of 7.4kWp panels, 6kW inverter, and 16kWh lithium battery, delivers energy that could power the entire home, including a bedroom with an air conditioner, for an entire day.
A competitor offers a similar 6-kW setup for a much lower fee of P350,000 while only one installer in Virac offers the same setup for less than P300,000.
Solar PV installers from the Bicol mainland and as far as Metro Manila are also entering the island’s market but local companies have a distinct advantage.
They can assure their clients of their prompt service in case of any maintenance issue especially before an impending arrival of a strong typhoon that requires the removal of the solar panels.
According to a veteran installer, a typical solar panel setup can withstand wind speeds of up to 90 kilometers per hour, or the peak winds of a tropical storm, but beyond this limit, a full-blown typhoon could tear off the solar panels.
Installers usually charge P1,000 each for removal and reinstallation although the total amount could depend on the number of panels. One installer charges P300 per panel.