An additional note to this post: Since 2017 the VEET scheme changed its name and direction and is now titled the VEU Program (Victorian Energy Upgrades)
How does the VEET scheme work? We’re often asked how and why the VEET scheme works by both residential and commercial customers interested in upgrading their properties to make them more energy efficient with subsidies through upgrades like led retrofits. We thought we’d provide a helpful summary of just how the VEET scheme works in relation to the LED upgrades we complete.
What is the VEET scheme for?
The Victorian Government’s Energy Saver Incentive scheme (also known as VEET and now titled VEU) encourages households and businesses to use energy more efficiently, save money on their bills and reduce greenhouse gas emissions. As one of the largest Accredited Partners in the program – since 2008, Energy Makeovers can create Victorian Energy Efficiency Certificates (‘VEECs’) when we replace your outdated and inefficient lights with program-approved energy-saving LED products. We then sell these Energy Efficiency Certificates to energy retailers (AGL, Origin etc) who are obligated to offset their carbon emissions by purchasing these certificates each year. This process completely covers the cost or subsidises some of your LED upgrades. All that’s required is for you to sign our VEEC assignment form at the end of the installation to allow us to create the VEECs.
Are tax payers funding VEET upgrades?
One of our most frequently asked questions is; ‘are tax payers funding the cost?’ They’re not. VEET scheme LED upgrades are not funded by the tax payer at all. In fact, the majority of commercial businesses around Victoria are already paying a VEET fee as part of environmental charges in their energy bills.
We have provided an example below from a Victorian business who had an LED upgrade through Energy Makeovers. You can see the environmental charges the company is paying to their energy retailer; specifically the ‘VEET charge’. The majority of Victorian businesses will be paying a charge like this unless they’re included on the erep register.
There are terms and conditions around the VEU program (previously VEET scheme) – for example, if you’re upgrading a business the amount of subsidy you’ll be eligible for on a lighting upgrade will depend on the lights you need and the purposes of your business; if you’re upgrading your home you will need to be upgrading a certain type of light fitting like downlight or incandescent. For more information or to register your interest for a residential or commercial upgrade to LED visit our information pages.
Call us LEDs for homes LEDs for business
Energy Makeovers: accredited Victorian Energy Upgrades LED Installers
As one of the parties involved in the launch of (the then-titled) VEET, and one of the first Accredited Partners, Energy Makeovers have a wealth of experience of carrying out LED upgrades as part of the VEU Program (VEET scheme).
Since 2008, we’ve helped to improve the energy efficiency of over 250,000 Australian homes and businesses with efficiency upgrades.
What does the VEU Program (VEET scheme) mean for householders and businesses?
As the leading VEET LED installation company in Melbourne, residential and commercial customers often want to know more about the VEU Program (or VEET scheme). Now known as the Victorian Government Energy Upgrades Program, the original title of the program was Victorian Energy Efficiency Target scheme – hence VEET.
The VEU program aims to encourage households and businesses to find ways to use energy more efficiently – thus reducing energy bills and reducing the carbon footprint of Victoria. It’s also been designed to make these energy efficiency improvements more affordable, by subsidising the cost of upgrading your lighting. All states around Australia are making energy-efficient upgrades available to work towards Australia’s Paris Climate Agreement target.
As one of the founding members of the program, Energy Makeovers have been helping the people of Victoria to meet these aims, by replacing outdated and inefficient halogen lighting with approved energy-saving LED lighting.
Call us LEDs for homes LEDs for business
Why Energy Makeovers can offer subsidised LED upgrades
As ESC VEET (VEU) accredited installers, once we’ve successfully upgraded your old lighting system to a new LED system, we’re able to create Victorian Energy Efficiency Certificates (VEECs) The VEECs are then sold to energy retailers, which pay for or subsidise part of your LED upgrade. Energy retailers are obligated to purchase these certificates to offset their carbon emissions.
Following your installation, we simply ask that once we’ve replaced your lights, you add your signature to the VEEC assignment form which will allow us to create the necessary VEECs and sell them on your behalf.
VEU LED Upgrades are not funded by the taxpayer
Just in case you were thinking that as taxpayers, you’re funding the LED upgrade scheme – we want to put your mind at rest. The majority of Victorian companies are already paying a ‘VEET fee’ as part of their electricity bills or under ‘environmental charges’. If you’d like to know more we have a blog post on how VEET charges are paid.
Could the VEU Program help you? Call us now to see if you’re eligible
If you’d like further information on how the scheme can help you, or you’d like to check to see if you’re eligible for a VEU (VEET) LED upgrade, contact the team here at Energy Makeovers, either by calling 1300 788 776 or completing an LED upgrade enquiry form.
While we do carry out most of our VEET VEU upgrades in Victoria, we also carry out installations of LED lighting recommended by VEU Australia-wide, so contact us now to find out more.
Energy Makeovers are specialists when it comes led lighting installation, downlight installation & commercial led lighting services. Let us help if you are looking for some residential led lighting or want some more information on led downlights vs halogen lighting.