GSIS offers solar loan program to help members cut electricity costs

MANILA, Philippines — Government workers can now shift to solar energy to help cut monthly electricity bills through a financing program offered by the Government Service Insurance System (GSIS).

Through the Ginhawa Solar Energy Loan (GSEL), the financing program allows GSIS members to tap up to P500,000 for home solar panel installation, easing upfront costs while supporting the government’s push to expand renewable energy use at the household level.

GSIS President and General Manager Wick Veloso said the program gives members a practical option amid rising energy costs.

“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 agency said the initiative is also meant to help "take control of their energy expenses, reduce monthly bills and enjoy long-term savings—all while increasing the value of their homes."

As of April 21, the agency said it has received more than P5.7 billion in loan applications, showing strong interest from members looking for ways to manage rising utility costs.

Under GSEL, qualified members may borrow up to P500,000 at a 5% annual interest rate, computed in advance, payable over five years or 60 equal monthly amortizations. The estimated monthly payment may reach P10,416.67.

The loan may cover up to 100% of the cost of solar panels, including equipment and installation fees, but shall not exceed the actual amount reflected in required documents such as a solar panel quotation, installation contract, or official receipt for reimbursement.

Applications are coursed exclusively through the GSIS Touch mobile app, where members must upload supporting documents and secure certification from their agency authorized officer.

GSIS said applicants must be active members with at least three years of 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 meet net take-home pay requirements under the General Appropriations Act.

The program also includes a one-time Loan Redemption Insurance (LRI), fully deducted in advance, to cover the loan in case of the borrower’s untimely death.

The agency said the program is aligned with the government’s broader renewable energy goals while easing household financial pressure, with a total allocation of P12.5 billion, including P60 million for insurance coverage.

Members may pre-terminate the loan by settling the outstanding balance early, while cancellation is allowed within 30 days from approval, subject to full payment of principal and pro-rata interest.