HOUSEHOLDS who want to install solar panels in their homes now have another financing option through Security Bank Corp., which recently signed a partnership with Helios Energy Inc., for a solar mortgage program.
Through a statement it issued last Wednesday, Security Bank said its partnership with the pioneering climate fintech firm will allow the lender to integrate solar panels into housing loans. Through the partnership, the two firms will “provide a lifeline” for homeowners seeking relief from high utility expenses.
“By leveraging each other’s strengths, we aim to position our solar mortgage offering not merely as an option, but as a necessity,” Security Bank Senior Vice President and Secured Lending Division Head Paz Victoria R. Gonzalez was quoted in the statement as saying.
“This partnership encompasses a referral arrangement, wherein Helios will direct prospective clients to Security Bank for home loans inclusive of solar panels; utilization of the home equity option for solar panel acquisition; and solar mortgage to eligible clients through our ‘top-up program,’” Gonzalez added.
The partnership is founded on a financial product that integrates solar panel purchases into new or existing housing loans offered by the bank.
This approach not only makes solar energy more accessible but also provides homeowners with a cost-effective solution to embrace renewable energy, according to the country’s 10th-largest lender in terms of asset.
One of the key highlights of this collaboration is Helios’ commitment to ensuring quality and reliability in solar panel installations. Helios collaborates with reputable solar panel providers nationwide.
“Solar mortgages, led by Security Bank, will completely change the way solar is sold and the way we generate value from our homes. We don’t have to wait for capital appreciation or rental income,” Founder and CEO of Helios Hsin Yao Cheng said.
“[You can] add solar for zero down today and create a completely passive income stream for your family, all with zero downpayment today,” Cheng added.
Helios offers panels with a 25-year warranty, providing homeowners with peace of mind and long-term savings on their energy bills.
Further, Helios prioritizes preventive maintenance and consistent support to ensure the efficient functioning of solar systems throughout their lifespan.
Beyond clean energy, the partnership also underscores Security Bank’s commitment to sustainability. By promoting the adoption of renewable energy solutions, the Bank and Helios aim to contribute to the reduction of carbon emissions and the preservation of the environment.