MANILA, Philippines - Solar integrated systems provider Green Heat Corp. is working with banks for a faster adoption of solar rooftop installations, particularly in households.
The company will soon offer solar power solutions to households at more affordable and flexible payment terms, Green Heat director Glenn Tong said.
He said one of the banks they are in discussions with is BDO Unibank Inc. to offer solar rooftop installations at zero percent interest.
Green Heat finance director Edward Antonio said solar rooftops would be offered for as low as P170,000 for a typical household installation.
“It’s as low as P170,000. That’s typically about 1.5 kilowatts (kw), which is what we recommend for a standard household. Anything bigger than that, you’re wasting… we go for practicality,” he said.
This year, Green Heat is ramping up its solar rooftop installations to 6.5 megawatts (MW), bulk of which will be focused on commercial and industrial sectors of the market, COO Helen Tong said.
“There have been offers to supply for solar plants but we’d rather stay in rooftops since its more direct [to end-users],” she said.
For households, the company is eyeing to put up solar rooftops in around a thousand homes this year, which would be equivalent to 1.5 MW to 2 MW of the total target, [Glenn] Tong said.