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The Victorian Energy Efficiency Target (Project-Based Activities) Regulations 2017, which provide for project-based activities including the Measurement and Verification (M&V) method, commence on 19 June 2017. Find out more at the project-based activities page.

The Department consulted on project-based activities in June 2016. Our response to submissions for the M&V method is now available, along with all non-confidential submissions, on the consultation page .

Background

The Victorian Energy Efficiency Target (VEET) scheme is helping Victorians cut power bills and reduce greenhouse gas emissions, by giving households and businesses access to discounted energy efficient products and services.

The scheme works by setting a state-wide target for energy savings that results in a range of energy efficient products and services being made available to homes and businesses at a discount.

Through the scheme, Victorian households and businesses can access a range of discounted energy efficiency products and services. Accredited providers that deliver these financial incentives for services can generate Victorian Energy Efficiency Certificates. The number of certificates generated is based on the greenhouse gas savings associated with the eligible product or service. The level of incentive or discount received by households and businesses varies depending on the market activity and certificate price.

Products must be professionally installed by an approved participating business. Incentives for the purchase of some appliances may be available at point of sale at participating retailers. Consumers should check with a participating business prior to purchase.

The VEET scheme is market-based and places a legal requirement on energy retail companies through the Victorian Energy Efficiency Target Act 2007 , the Victorian Energy Efficiency Target Regulations 2008 and the Victorian Energy Efficiency Target (Project-Based Activities) Regulations 2017.  

Energy retailers are required to meet an annual greenhouse gas emissions target which they meet by surrendering Victorian Energy Efficiency Certificates.

The scheme is administered by the Essential Services Commission, which is the independent regulator of the retail energy industry in Victoria. Its role is to oversee compliance and performance reporting by energy businesses, and to accredit businesses and products and appliances which are eligible under the scheme.

Targets

On 25 August 2015 the Victorian Government announced that the VEET scheme targets for 2016-2020 are:

Year Amount of Victorian Energy Efficiency Certificates (VEECs) Target in tonnes CO2-e GHG abatement
2016 5.4 million 5.4 million
2017 5.9 million 5.9 million
2018 6.1 million 6.1 million
2019 6.3 million 6.3 million
2020 6.5 million 6.5 million

More information

For information on the operation of the scheme, contact the Essential Services Commission or call (03) 9032 1310.

If you are interested in what you can do to improve the energy efficiency of your home or business visit the Victorian Energy Saver website.

For further information, you can contact us directly at energysaver.incentive@delwp.vic.gov.au

For an outline of some of the changes to the scheme over time see the History of introduction of Scheme Activities page.

Subscribe to updates

To receive updates about VEET and upcoming opportunities to provide stakeholder feedback please email energysaver.incentive@delwp.vic.gov.au or fill in the form below.

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