MANILA, Philippines — Local property developer Imperial Homes Corp. launched yesterday the country’s first solar-net metered subdivision in Cavite, which it hopes to replicate in other parts of the country.
The company’s Via Verde Trece Martires development in Cavite is a milestone for the real estate and energy sectors since it pioneered a solar net-metered community.
The development has 550 houses integrated with solar solutions in a 50,000 square meter property, with all units already sold out, IHC president and CEO Emma Imperial said during the launch.
It is targeted for completion in 2025 and is expected to serve as a “model” for all affordable, resilient and sustainable projects in Cavite.
“The net-metering system is another proof that real estate and renewable energy and green resilient building materials are potent partners in addressing the concerns of poverty alleviation, climate change and housing backlogs. None of this is possible without the leadership of ERC chairperson Devanadera,” Imperial said.
Implemented in 2013, the net-metering program enables an ordinary electricity consumer to become a “prosumer” by installing a maximum of 100 kilowatts (kW) of renewable energy (RE) facility such as solar photovoltaic (PV).
As a prosumer, a consumer generates electricity for its own consumption, as well as sell any excess generation to the grid in exchange for electricity bill credits.
IHC partnered with Manila Electric Co. (Meralco) group for the solar net metering units per house.
“Supporting this initiative pioneered by Via Verde Trece Martires, the first solar net-metered community, is a testament to our advocacy in driving the transition to RE,” Meralco chief commercial officer and head of customer retail services Ferdinand Geluz said.
Through net metering, the Via Verde Trece Martires community can save as much as P1.2 billion while generating clean energy that offsets 45,000 tons of carbon emissions, equivalent to planting 50 million trees–all the while contributing to the electricity grid stability, IHC said.
The pioneering solar net-metered community is seen as a move that contributes to a more stable grid in Luzon, ERC chairperson Agnes Devanadera said.
“We would like to have this as a project model for ERC to point to and Imperial Homes will take on another role—a teaching role because they will be sharing this—that there are different agencies which enable programs like this and that is important. ERC can just come up with rules but beyond that, we need the private sector to put life to what ERC and other government agencies are talking about,” she said.
The ERC chief hopes other net-metering communities can also be developed in other provinces.
“I’m really grateful that Trece Martires hosted this. The call really is for every city so that we can address the backlog in housing, for every city and province to at least have a model community for renewable energy,” Devanadera said.
For its part, IHC said it is replicating this development in other areas as it has a commitment with the World Bank Group to develop 8,000 units.
“We have a net metered project in Cabanatuan [City, Nueva Ecija]… That’s a bigger area so about 1,300 houses,” Imperial said.
“We have a solar net metered community in Legazpi City, two of them. We have it in Iriga [in Camarines Sur]. We are opening one in Davao in partnership with Cary Lagdameo of Damosa Land. We’re putting up an economic housing in Panabos,” she said.
Last April, the International Finance Corp. (IFC) awarded Excellence in Design for Greater Efficiency (EDGE) and Building Resiliency Index (BRI) Certificates to IHC for successfully integrating sustainability and resiliency into the Via Verde Trece Martires housing project.
The EDGE is a global standard for green building that measures every home’s energy, water, and materials efficiency. Meanwhile, the BRI is an IFC’s resilient assessment framework and hazard mapping app that assesses, improves, and discloses building resilience.
Established in 1983, IHC has launched 28 real estate development projects and built over 20,000 homes.
If you like this article, share it on social media by clicking any of the icons below.
Or in case you haven’t subscribed yet to our newsletter, please click SUBSCRIBE so you won’t miss the daily real estate news updates delivered right to your Inbox.
The article was originally published in PhilStar Global and written by Danessa Rivera.
About Post Author
More Stories
Banks’ total assets up at P26.2 trillion end-June
Lamudi sees heightened developer confidence with rise in ad spending
Phase 1 of PHINMA’s Bacolod township to finish by next year