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Large-scale Generation Certificates (LGCs): Facilitating Large-scale Renewable Projects
Victorian Energy Efficiency Certificates (VEECs) for Solar
What They Are
Victorian Energy Efficiency Certificates (VEECs) are an integral part of the Victorian Energy Upgrade (VEU) program, aimed at reducing greenhouse gas emissions and energy bills through incentivizing energy-efficient solutions, including solar systems over 100kW. VEECs are created based on the amount of energy saved by using solar energy primarily consumed on-site rather than exported to the grid.
How They Benefit You
For businesses installing large-scale solar systems, VEECs provide significant financial benefits. The creation of VEECs involves calculating the energy saved, which translates into VEECs. These certificates can then be sold, offering a direct monetary return on the investment in solar technology. Notably, VEECs for solar can be forward-paid for ten years, providing substantial upfront savings compared to other schemes that spread out incentives over several years.
How You Can Obtain Them
VEECs can only be created for new solar projects over 100kW that have not commenced any physical works. The process, known as Measurement and Verification (M&V), involves establishing a baseline of energy consumption and comparing it post-installation to determine the actual savings. This method ensures that the certificates reflect true energy savings. Accredited Certificate Providers (ACPs) must handle the application and creation of VEECs, as they are regulated entities approved to operate under the VEU system.
Mention of Revenue Stream
VEECs provide a notable revenue stream for eligible businesses by allowing them to generate and sell these certificates, which are highly valued in the market. This aspect makes them an attractive option for businesses looking to reduce operational costs and invest in sustainable practices.
Government Program Details
The VEU program, under which VEECs are created, aims to help Victorians cut down on energy expenses and lower carbon emissions. It targets various energy-saving activities, with solar VEECs specifically designed for larger solar installations that can generate significant on-site energy consumption savings. The program mandates energy retailers to acquire a certain amount of these certificates annually, thus ensuring a market for them and facilitating the scheme's intended environmental and economic impacts.
Australian Energy Upgrades can guide you through the complexities of the VEU program and optimize your financial incentives. Our expertise in managing the application and certification process ensures that your business can maximize the benefits from VEECs, contributing to both your sustainability goals and bottom line.
Australian Energy Upgrades Credentials
Australian Energy Upgrades being recognised as New Energy Tech Approved Sellers signifies their adherence to stringent quality, reliability, and ethical standards in the provision of new energy technologies. This endorsement reflects their dedication to advancing Australia's energy sector with innovative and sustainable solutions.
Australian Energy Upgrades, CM3 certified, ensures compliance with the highest standards of health, safety, and environmental management. This esteemed certification significantly signifies their unwavering commitment to delivering quality and safe energy solutions, thereby offering customers and stakeholders enhanced peace of mind.
As approved Solar Victoria installers for hot water and solar systems, Australian Energy Upgrades can offer rebates and loans through the program. This acknowledgment not only underscores their credibility and proficiency in delivering renewable energy solutions but also enhances affordability and accessibility for sustainable energy investments.
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