SSS eyes rollout of loans for residential solar panels in early 2027

The Social Security System (SSS) is planning to roll out the proposed Energy Sustainability Loan Program, which allows qualified members to avail of financing to install residential solar panel systems, within the first semester of 2027.

At the sidelines of the pension fund’s 69th founding anniversary press conference in Quezon City on Tuesday, SSS president and CEO Robert Joseph de Claro said about P40 billion will be earmarked for the loan program.

De Claro said the amount would support at least 100,000 members eyeing to install solar panel systems amid rising electricity costs.

“At P400,000 per member… that would be about a hundred thousand members,” de Claro said.

The SSS chief said the pension fund is targeting the release of the guidelines for the Energy Sustainability Loan by December 2026.

“So the rollout would be by first quarter or second quarter next year,” he said.

“We want to make sure that the loan to be provided would be used by members to actually purchases solar panels for their homes,” he added.

The SSS chief said the Energy Sustainability Loan is “something that we want to put up as we see the needs of our members… so we’re trying to craft a program that is sustainable, addresses the needs of our members.”

De Claro said the SSS is also studying the possibility of allowing the loaned amount under the Energy Sustainability Loan Program to be a down payment for purchasing an electric vehicle. —VAL, GMA News