The Victorian Energy Upgrades (VEU) program is one of Victoria’s largest initiatives to reduce greenhouse gas emissions and lower energy costs for homes and businesses. But what exactly is the VEU program, and how can you take advantage of it to improve your home’s energy efficiency? In this article, we’ll break down the VEU program and explain how it works.

1. What is the VEU Program?

The VEU program is a state-run initiative that provides financial incentives to Victorians for installing energy-efficient products. It aims to reduce the state’s carbon footprint by encouraging the adoption of energy-efficient technologies in homes and businesses.

• Goal: Reduce greenhouse gas emissions and lower energy consumption.
• Method: Offer rebates and discounts for energy-efficient upgrades, which are delivered by accredited providers.

The program works through the creation of Victorian Energy Efficiency Certificates (VEECs), which are earned by accredited providers when they install approved energy-efficient products. These certificates are then sold on the market, with the savings passed on to consumers in the form of rebates.

2. Eligible Products Under the VEU

The VEU program covers a wide range of products designed to reduce energy consumption, including:

• Heat pump hot water systems: Replace old gas or electric hot water systems with energy-efficient heat pumps.
• LED lighting: Upgrade old fluorescent lights in a commercial premises with energy-saving LEDs.
• Reverse cycle air conditioners: Install efficient reverse cycle air conditioning systems that offer both heating and cooling.
• Solar for businesses over 100kW: Install solar systems to reduce reliance on grid electricity.

3. How the VEU Program Works

The process of accessing rebates under the VEU program is simple and typically involves these steps:

1. Contact an accredited provider: You must work with an accredited provider, like Australian Energy Upgrades, who will handle the entire process for you.
2. Assess your eligibility: The provider will assess whether your current system is eligible for an upgrade and what savings you can receive.
3. Receive a quote: The provider will give you a quote, which includes the discount or rebate from the VEU program.
4. Installation: Once you agree to the quote, the accredited provider will install the new system, and the rebate is applied upfront.

4. How Much Can You Save?

The amount you save through the VEU program varies depending on the product and your current energy system. For example:

• Heat pump water systems: You could save up to $3,000 on installation costs.
• LED lighting: Upgrading to LED lights can save thousands of dollars on your annual business electricity bill, with rebates reducing the upfront cost.
• Solar panels: $100,000’s potentially available for systems over 100kW.

5. VEU and Business Energy Efficiency

The VEU program isn’t just for homeowners—it also offers significant benefits for businesses looking to reduce their energy costs. Eligible businesses can upgrade their lighting, HVAC systems, and more, with rebates helping to reduce the cost of these improvements.

Conclusion

The VEU program is an excellent opportunity for Victorian households and businesses to save money while improving energy efficiency. By working with accredited providers and upgrading to energy-efficient products, you can reduce your energy bills and help lower the state’s carbon footprint at the same time.