Victorian Energy Upgrades Program
What is VEU Program?
The Victorian Energy Upgrades (VEU) program, formerly VEET Scheme, helps Victorian households and businesses reduce their energy bills and carbon footprint by allowing them to access discounted energy-efficient products and upgrades, in most cases free. Incentive and discounts received by eligible Victorians vary depending on market activity.
The Department of Environment, Land, Water and Planning (DELWP) develops the Regulations and Acts associated with the VEU Program. The Victorian Energy Efficiency Target Act 2007 establishes the Victorian Energy Upgrades program. The VEET Act commenced on 1 January 2009 and provides for the VEU Program to operate to the end of 2029.
The VEU Program is administrated by Essential Services Commission (ESC), which are an independent regulator that promotes the long-term interests of Victorian consumers with respect to the price, quality and reliability of essential services.
What is VEEC?
A VEEC is a representation of one ton of greenhouse gas abated, the reduction is created by implementing energy efficient technologies and decommissioning old technology. The AP can partner with businesses to perform the technology upgrades and decommissions. The AP creates a VEEC from the energy saved from the upgrade and the VEEC is then used to help offset the cost of the upgrade to the end user. The AP ensures that the technology upgrade is compliant with the ESC’s rules.
Opportunities for Business
To put it simply, the VEET Scheme creates opportunities for businesses in Victoria to access energy efficient technologies at an affordable price. If your business is eligible you can receive a heating & cooling upgrade at a greatly reduced cost in exchange for the VEEC’s created. Your business receives a low (or sometimes, zero) cost upgrade with quality energy efficient products and benefits immediately from the energy savings for all future electricity costs.
Opportunities for Residents
To put it simply, the VEET Scheme creates opportunities for Victorian households to adopt energy efficient technologies. If your home is eligible you can receive a heating & cooling upgrade at a discounted price in exchange for the VEEC’s created. Your household will receive a no cost upgrade with quality energy efficient products. Additionally, your household will benefit from the energy savings created from the products installed.
Upgrade Your Residential & Commercial Inefficient System
We have performed hundreds of energy efficient product upgrades in Victoria, NSW, Queensland and have streamlined the process to make it as easy and trouble free as possible.