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Financing

Financing your Home Solar – Part 1

So, you are wanting to have your own home solar PV system but you’re concerned about the upfront investment costs? You are not alone, and there are ways that you can explore to make shifting to solar a reality.

a man standing on the roof holding a solar panel
Photo by Kindel Media on Pexels.com

You might have already heard of the Pag-IBIG Fund. The Home Development Mutual Fund, better known as the Pag-IBIG Fund, is the Philippines’ main national savings program. It operates under the auspices of the Housing and Urban Development Coordinating Council and its mission is to promote and provide affordable financing of shelter to Filipinos. 

What you might not have heard of is that the HDMF is also offering loans of up to P500,000 for the installation of solar panels at home. This initiative was put up way back in 2015 as a way of showing Pag-IBIG Fund’s support to mitigate the effects of climate change and to maximize and utilize renewable energy resources. Solar installations will be considered under the electrical aspect of the housing loan that includes the bill of materials and cost estimate.

From the official memo, a qualified Pag-IBIG Fund member may be allowed to avail of a housing loan for the acquisition/installation of solar panels as part of home improvement or as a component of the housing unit to be purchased subject to the prevailing Pag-IBIG Fund retail housing loan programs. The loan shall be secured by a collateral that shall consist of the same residential property to which the loan proceeds are applied. 

To learn more about the Pag-IBIG, visit their website to get more information on how to apply for that home loan. And when you get that home loan approved, go and choose your solar installers here at SolarWisePH! SolarWisePH has a network of trusted installers, ensuring that you get quality materials and service for your hard earned money.

Got questions or feedback? Email us at hello@solarwiseph.com or visit our Facebook page for the latest content and updates. 

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