SSS preparing to lend P40B for household solar panels

MANILA, Philippines – The Social Security System (SSS) is eyeing a P40-billion allocation for a new energy sustainability loan program that would help members finance the installation of residential solar panels.

“Personally, I’m targeting September to announce it. Maybe the implementation might be at the end of this year or early next year. But we’re already crafting the rules,” SSS President and CEO Robert Joseph de Claro told reporters on the sidelines of an event.

READ: Lower capital charge eyed for green home lending

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The proposed facility will offer maximum loans of P300,000 to P400,000, payable over four to seven years. It is expected to benefit around 100,000 households.

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De Claro said the interest rate has yet to be finalized but would likely be set slightly above the prevailing Treasury bill rate when the program is rolled out.

The initiative comes as more Filipino households turn to rooftop solar systems to help lower electricity bills amid elevated power costs following the energy market disruptions triggered by the Middle East war.

Already, a report by United Kingdom-based energy think tank Ember showed that the Philippines emerged as China’s second-largest export market for solar panels, with the country’s rooftop solar capacity nearly doubling to about 1,300 megawatts (MW) by early 2026 from 721 MW a year earlier.

Chinese customs data also showed that the Philippines had imported $407 million worth of solar panels from China from March through May, underscoring the growing demand for rooftop installations.

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More pension hikes?

In a separate development, De Claro said the SSS would likely evaluate next year whether to extend its Pension Reform Program (PRP) beyond its scheduled 2027 completion.

“Ideally, by 2028, which is 10 years of the SSS law, we’ll see what’s the right provision. But what we’re focused on is how to make member benefits better so we can attract more, especially the youth,” he said.

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However, SSS has not yet made any formal discussion with the Department of Finance.

First rolled out in September 2025, the PRP provides phased pension increases without raising member contributions. The program is scheduled to run until 2027 and will result in a cumulative 33-percent increase for retirement and disability pensioners and 16 percent for death and survivor pensioners.

The second tranche took effect on June 1, three months ahead of its original September schedule, as the agency sought to cushion pensioners from inflation and higher energy costs.

READ: GSIS to roll out ‘green’ loans for solar homes

Asked whether the third tranche could also be implemented ahead of schedule, De Claro said this would depend on the agency’s financial performance.

SSS has yet to publicly release its financial statement for the first and second quarter of 2026. Its 2025 performance, however, showed that the agency’s net income surged 58.4 percent to P142.97 billion, surpassing the P100-billion target.

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Reserve funds also breached the P1-trillion mark for the first time, ensuring that the SSS has enough resources to meet its future benefit obligations even during periods of economic uncertainty. INQ