Published April 11, 2017, 10:01 PM By Myrna M. Velasco
Leviste-led Solar Philippines is offering ‘leasing arrangement” to Filipino households who would opt for a ‘big shift” to solar in meeting their electricity needs.
According to Solar Philippines President Leandro Leviste, the company dangles “zero upfront solar leases on a monthly rate in selected areas.” For now, the targeted areas would be Manila, Cebu, Davao, Iloilo, Bacolod, Palawan, Mindoro and other cities known to be grumbling about expensive electricity rates.
The lease options, he said, are either of 10, 15 or 25-year duration – depending on the preference of the end-user.
“Solar Philippines warrants a minimum energy output during the term, in addition to product warranties that carry over even after the lease ends and the ownership transfers,” Leviste explained.
The rollout of solar solutions to Filipino homes, he added, is commencing without batteries yet – but such technology coupling would kickstart by the middle of this year.
In bringing this ‘solar leasing option’ to the households, Solar Philippines noted that it will just replicate the business model that it employed with bigger end-users, like the SM Malls.
The company admitted that this was patterned after the pioneering ventures of Elon Musk’s Tesla and SolarCity in propagating solar homes in the United States.
The cost savings that Solar Philippines has been guaranteeing prospective customers would be to the tune of 20 to 30-percent reduction compared to the prevailing grid rate in the targeted domains.
“The rates vary depending on the term of the lease, with the lowest rates accorded for the longer-term lease,” Leviste explained.
He stressed that “while some people want to save planet earth, everyone wants to save on electricity, and we hope this new model can bring solar panels from 1.0-percent to 100-percent in a few years.”