Helios and BPI Launch Groundbreaking Solar Mortgage Program: Democratizing Solar Power Access for Homeowners in Asia

Helios, a climate fintech firm, has introduced Asia’s inaugural solar mortgage program, aiming to democratize solar power accessibility for homeowners. In a pioneering move, Helios has teamed up with the Bank of the Philippine Islands (BPI) to integrate solar energy solutions into residential properties acquired through home loans.

Alex Aronson, co-founder of Helios, describes the solar mortgage as a groundbreaking Filipino innovation. This innovative approach ensures that the green loan with BPI is cash flow positive, meaning the savings generated from installing solar panels exceed any payment obligations, thereby making homes more affordable for consumers servicing home loans.

The solar mortgage program offers a wide range of options, with financing available for both new home purchases and existing homes seeking solar upgrades, ranging from PHP 400,000 to over PHP 10 million. This flexibility caters to the diverse needs and budgets of homeowners, making solar energy more accessible.

Since its launch in the last quarter of 2023, approximately 100 new homeowners have already taken advantage of the solar mortgage offering. BPI aims to lead the market in innovative financing products and services, collaborating with Helios to promote solar adoption.

Aronson highlights that the average Filipino household allocates a significant portion of its spending—around 30 percent—towards utility costs, which amounts to PHP 2 million to PHP 3 million over 20 years. With the solar mortgage, electricity costs could plummet to just 5 percent, fostering environmental awareness and energy efficiency.

With Southeast Asia’s solar adoption race underway, residential transition accounts for a significant portion of the total addressable market. Helios’ consumer-centric approach aims to facilitate the transition to residential solar, with a goal of installing solar panels on the roofs of 20 million homes across Southeast Asia within 7 to 10 years.

The solar mortgage program offered by BPI and Helios features a 7% interest rate and a 7-year fixing period, with the potential for fee waivers of up to PHP 70,000. Additionally, Helios has partnered with Longi Green Energy Technology Co. Ltd., a leading developer of solar power projects, to provide homeowners with a 25-year guarantee on solar panels, ensuring reliability and longevity.