Published on 08 May 2013
Customers of the Bank of the Philippine Islands (BPI) who head to its Ayala Avenue Extension branch will notice something different with the one-story structure. What used to be a bare nondescript roof, above the bank’s familiar red signage and white columns, is now occupied by a row of metallic panels that gleam under the sun.
It’s not the intense summer heat that had prompted BPI to put up these solar panels in one of its branches. As the first of its kind to be installed by a local bank, BPI hopes that the move will not only shine the spotlight on the global crusade for a greener planet, but more importantly create awareness on the commercial viability of technologies that utilize more sustainable energy.
“The solar energy systems installed at our Ayala Avenue Extension branch are a relatively small-sized unit,” said Florendo Maranan, BPI senior vice president, who is also the executive director of BPI Foundation.
“Environmentally, the reduction in fossil fuel dependence might seem like an insignificant figure, but we believe it still amounts to something when we talk about working toward a cleaner planet.”
Harnessing the power of the sun
Renewable sources of energy, such as the sun, have long been proven to be cleaner and a more sustainable alternative to fossil fuel. It is estimated that the amount of sunlight that reaches the Earth could provide as much as 10,000 times more energy than the combined output of all the commercial power plants in the planet. This is roughly equivalent to about 6,000 times more than what the entire world needs.
In the Philippines, electricity costs remain to be one of the most expensive in the region and some provinces are still plagued by rotating brownouts. Thus, something as dependable as sunlight can spell a big difference. For this pilot BPI branch, the amount of savings that the panels are envisioned to bring is nothing to scoff at.
The 161-year-old institution, in partnership with energy service company Solarus Partners Inc., has installed two 2.5-kilowatt (kWh) commercial solar photovoltaic (PV) systems in the pilot branch.
Combined, these panels are expected to produce some 6,200 kWh of power a year, which translates to an estimated 25 percent savings in the branch’s electricity bill.
“We’re exploring solar energy systems for branches that are off-grid or those that do not have regular or stable source of power,” said Maranan, who also heads BPI’s sustainability office.
Worthwhile investment
While the investment in installing the solar panels might seem a little steep at about P100,000 to P150,000 per kilowatt of generated power, the period of recouping the initial cost is a lot shorter than what many think. Maranan said that, the bank expects regular electricity costs to increase by about 10 percent to 15 percent a year so recouping the investment may take as little as five years.
“But beyond the cost, I think it’s important to look at this endeavor as a commitment,” he stressed. source
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