28 November 2025
Victorian Business Sector Uptake Model Survey, C&I Heat Pump Water Heater Survey and VEU Greenhouse Gas Reduction Rates for 2026
Victorian Business Sector Uptake Model – business survey
The Victorian Energy Upgrades (VEU) program is a state government initiative that helps businesses and households reduce energy consumption, lower utility expenses, and minimise greenhouse gas emissions by providing discounts for installing energy efficient products and equipment.
To support the VEU program, the Department of Energy, Environment and Climate Action (DEECA) uses a model that predicts how many businesses will undertake different types of energy upgrades under varying levels of incentive and target scenarios. DEECA is in the process of updating the assumptions in this model.
We have developed a survey to gather feedback from businesses and ensure the model reflects real-world conditions and accurate business data.
This survey aims to understand the factors and motivations that influence your business decisions to invest in energy-efficient upgrades. The insights will feed into the Victorian Business Sector Uptake Model and be used to inform the next round of the program’s target setting.
Your feedback is extremely important and provides a valuable part of this process.
The survey will take 5 to 10 minutes to complete and will be open until 15 December 2025.
We are committed to proactive and transparent engagement. Your feedback is extremely important and provides a valuable part of this process.
Please contact us via email at energy.upgrades@deeca.vic.gov.au if you have any questions.
Find out more about the VEU program.
Survey now open to hear from industry on the progress of the commercial heat pump water heater activity
DEECA monitors and develops the commercial and industrial (C&I) heat pump water heater (HPWH) activity currently available under the VEU program.
You are invited to participate in an industry survey commencing today (28 November) to provide feedback on opportunities for the C&I HPWH activity.
Please access and submit your response Engage Victoria
The survey is part of a review of the C&I HPWH activity to identify how the VEU program may be better able to support the electrification of commercial and apartment buildings and to ensure businesses are able to benefit from fit-for-purpose products when electrifying their on-site equipment.
The survey will be open until 11:59PM Sunday 28 December 2025.
Greenhouse gas reduction rates for 2026
The following greenhouse gas reduction rates for 2026 will be fixed under the Victorian Energy Efficiency Target Act 2007:
- 0.09705 for electricity; and
- 0.01364 for gas.
These rates were recommended by the Minister for Energy and Resources and published by Order of the Governor in Council in the Victoria Government Gazette (refer to page 47 of the General Gazette Number G48 Dated 27 November 2025).
When multiplied by the amount of energy expected to be purchased by energy retailers in 2026, the rates determine the number of certificates each retailer needs to surrender to meet their share of the 2026 target of 4.4 million tonnes of greenhouse gas abated, while adjusting for differences between estimated and actual energy purchases in previous years.
The greenhouse gas reduction rates were determined in consultation with the Essential Services Commission.
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Page last updated: 28/11/25