Filipino firm Solar Philippines has rolled out a fully financed solar package for small and medium size enterprises (SMEs) to provide them a break from the country’s highest-in-the-world electricity rates.
Solar Philippines president Leandro Leviste said the Pay What You Save Business (PWYSB) program will provide businesses an alternative solution to their power needs.
The program will allow business owners to go solar at zero down payment and with the freedom to choose their term length, he said.
Under the program, business owners will be able to build solar plants specific to their conditions, from the applicable utility rates to electricity demand profile and operating hours.
By promoting a distributed generation model, power is generated on-site and allows consumers to be co-producers of electricity, lessening dependence on electricity supplied by the grid.
“Solar has gained the reputation of being expensive, not because of the technology, but because previous efforts were too small to benefit from economies of scale. By building the country’s largest projects, we’ve become the first local company to make solar cost-competitive with fossil fuel,” he said.
Leviste said qualified business establishments will be able to choose how much they are willing to invest upfront, and pick from terms ranging from 3, 5, 7, 10 and 15 years.
Dedicated account managers will study the financial, technical and operational considerations in coming up with solar solution options tailored to the client’s needs.
“For us right now, the numbers are attractive for all businesses, especially in the Meralco franchise area where the cost of electricity is very high,” he said.
Ownership of the solar power plant transfers to the customer after the payment term.
“So now, every business owner in the Philippines can go solar at zero upfront, making solar technology more affordable and accessible than ever,” Leviste told reporters on the sidelines of the 10th Asia Clean Energy Forum hosted by the Asian Development Bank in Manila.
Earlier this year, Solar also introduced a “Pay What You Save —Residential” program for select homeowners.
Solar Philippines boasts of the largest completed solar projects in the country, such as the 1.5 megawatt-peak (MWp) solar rooftop power plant at SM North EDSA, the 1.2 MWp rooftop at Robinsons Place Palawan, the 0.7 MWp rooftop at the Central Mall Biñan and the 0.6 MWp rooftop at CityMall Roxas.
The company said several SMEs are now enjoying the benefits of going solar, having found the value of partnering with Solar Philippines in reducing their electricity costs and their carbon footprint.
It said car dealerships such as Toyota San Pablo, plastic manufacturers such as Tri-Pack Philippines, and industrial supply and retailers like Davao Diamond in Mindanao are now enjoying up to 50 percent savings from their utility bills, it said.
Solar Philippines is the country’s leading solar provider and Southeast Asia’s largest developer of rooftop power plants.
The country’s first all-in-one solar financing, design, and construction company, it installs solar facilities on rooftops at zero cost, supplying electricity at below utility rates.