Energy Secretary Vincent Perez said the financing facility would make quality CFLs more affordable to consumers.
He said the DOE is current working with the Philippine Lighting Industry Association (PLIA) in forging agreements between the credit cooperatives and the CFL suppliers.
"The program will tap the credit cooperatives, starting with the DOE Employees Cooperative, to provide soft loans to its members. This will be payable in equal monthly installments," Perez said.
After the DOE Employees Cooperative, the program will develop similar schemes for other government energy-related agencies like the Philippine National Oil Co. (PNOC) and the National Power Corp. (Napocor).
Perez said the DOE also hopes to replicate the CFL financing scheme in other government agencies and electric cooperatives through the department’s Palit-Ilaw Program.
"We hope that through this program consumers will be encouraged to switch to CFL for their lighting purposes," he said.
To date, some 55 CFL-compliant models are now available in the market. These products have passed the government’s product standards for safety and performance.
The energy chief also urged consumers to look for the product quality marks –the Philippine National Standard (PNS) and Import Commodity Clearance (ICC) – found in the box or packaging of the product.
He added that the Energy Label mark by the DOE and the Department of Trade and Industry (DTI) will also be reflected soon in the packaging of the CFL. The energy labels are mandatory stickers or labels affixed on the products or on the packaging to provide the consumers information on the energy efficiency performance of the product.
In particular, the energy label for CFL will detail information on the light output, power consumption, efficacy and average life of the CFL.
Perez said while quality CFLs cost six to eight times more than incandescent bulbs, CFLs are three to five times more efficient in terms of light output. At the same time, CFLs last four to eight times longer than incandescent bulbs, thus more economical for the consumers in the long run.
"The relatively high initial cost of CFLs compared to incandescent bulbs somehow deters the consumers in buying CFLs. But several tests have found out that CFLs give better light output than incandescent bulbs," he said.
Perez noted that a 20-watt CFL has an efficacy rating of 45 to 65 lumens per watt against a 100-watt bulb which has an efficacy rating of only 8-12 lumens per watt. Also, CFLs have much longer life of 6,000 to 10,000 hours than that of incandescent bulbs at 750-1,000 hours.