Marayo Bank Inc. contracted GreenEnergy Solutions Inc. to install a 15-kilowatt (kW) net-metered solar photovoltaic (PV) system in its head office in Pontevedra, Negros Occidental, a press release from the bank said.
The bank, founded in 1969, is now chaired by Franklin Fuentebella.
Vicente Javellana Jr., its president and general manager, wants to basically lower the bank's high electricity bills and save money, the press release said.
The solar system that consists of 60 panels installed on the roof of the bank helping the environment by lowering carbon emissions.
Javellana also plans to install solar power in the other branches in the future.
Marayo Bank has six branches in Negros Occidental in Kabankalan, Binalbagan, Bacolod (Corporate Office), E.B. Magalona, Cadiz, Pontevedra, and two branches in Iloilo - Passi City and Banate.
Manesh Gidwani, president of GreenEnergy Solutions Inc., said the bank is the first solar power connection through net metering done by Negros Occidental Electric Cooperative(NOCECO).
This solar system utilizes the power of the sun to produce electricity during daytime. Since banking hours are from 9 to 3 p.m. the power generated will be utilized immediately, the press release said.
If power is insufficient then it will be pulled from the grid. In the event that there is excess power generated from the solar PV installation it is exported back to NOCECO and registered by the net meter, it added.
This will be used to offset the bank's electricity consumption. In effect, the bank is able to generate significant savings on their electricity bill by using the grid as a storage device instead of physical batteries that are expensive and have a limited lifespan, the press release said.
NOCECO officials recently led the commissioning and installation of the net meter in the bank. Present were engineers Anthony Magbanua, Donna Matola, and Nuelbert Estores of NONECO, and included in the team were technicians Johnny Talabam, Ramsel Delaraga, and Ronnie Obiedo.
GreenEnergy Solutions team was led by its chief technical engineer Andre De Hertogh.
GreenEnergy Solutions has several ongoing solar projects in residential areas in Capitolville Subdivision, Buena Park Subdivision, Brgy. Taculing and Bago City. Other projects are in commercial areas in Circumferential Road, Brgy. Mansilingan, and Murcia, the press release also said.*
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