The Victorian Energy Upgrades (VEU) is driving energy efficiency upgrades in Victoria by providing financial incentives to make implementation more affordable and attractive.

Also known as the Energy Saver Incentive or the VEET Scheme, it is administered in accordance with the VEU Regulations 2008 by the Essential Services Commission.

Victorian Energy Efficiency Certificates (VEECS) can be created by an Accredited Person (AP) and sold to a liable party (Energy Retailer) when a legitimate activity takes place. The scheme places an obligation on Energy Retailers to purchase certain quantities of Victorian Energy Efficiency Certificates (VEECs) every year, and through a wholesale certificate market, this creates the incentive for energy efficiency activities.

Let Wattly assist you with your next project. Take the hassle out of maneuvering your way through the rules and processes. Wattly is an accredited certificate provider and aggregator for several schemes and programs throughout Australia. Unlock government schemes and incentives sooner with the team at Wattly.

Talk to Wattly today about unlocking funding from one of the VEU schedules below:

 

CategorySchActivityResidentialBusinessWattly Accredited
Commercial Lighting Building Based34Commercial building lighting upgradesNOYESYES
Commercial Lighting Non-Building Based34Outdoor: Public lighting, streets, councils, carparks, sports facilities lighting.NOYESYES
Project Based ActivitiesPBACommercial and Industrial Upgrades.NOYESYES
Incandescent Lighting Replacement21General Lighting including downlights, reflectors lamps, incandescent lightingYESYESYES

 

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Frequently Asked Questions about Victorian Energy Upgrades (VEU)

The VEET (Victorian Energy Efficiency Target) Scheme, also known as the VEU (Victorian Energy Upgrades) Program, is one of Australia's most popular energy savings programs. The purpose of the Scheme is to make energy efficiency improvements more affordable, reduce greenhouse gas emissions, encourage efficient use of electricity and gas, and increase investment, employment and technology development across Victoria. It was established under the Victorian Energy Efficiency Target Act 2007 (the Act) and commenced on 1 January 2009. It is legislated to continue in three-year phases until 1 January 2030. Please note: The VEET scheme was renamed to the VEU scheme in August 2017.
As an Accredited Participant of the scheme since 2012, Wattly is allowed to create Victorian Energy Efficiency Certificates to help energy consumers make selected energy efficiency improvements to their homes, business premises or other non-residential premises. Revenue generated through the sale of VEECs enables Wattly to offer energy consumers special benefits that may reduce the cost of undertaking these energy efficiency improvements.
• VIC Government scheme regulated to 2030 (The VEU Act). • VIC Government Essential Services Commission (ESC) administers the scheme • VIC Department of Environment, Land, and Water Planning (DELWP) are responsible for policy development of the scheme.
• The scheme places an obligation on energy retailers to purchase VEECs • Energy Retailers face penalties for failing to meet (surrender) their quota of certificates • Certificate costs are recovered from consumers (through charges on their electricity bills)
A VEEC, also known as a Victorian Energy Efficiency Certificate, is awarded to an AP (accredited persons) such as Wattly when an upgrade under the VEET Scheme is completed. Each certificate represents a saving of one tonne of green house abated.
This starts when inefficient lights are replaced with approved energy savings LED products by a licensed installer/installation company. Once done, the installer will then provide pertinent documents to Wattly based on the compliance requirements set by the Essential Services Commission. Wattly will then process an audit of the requirements and if the upgrade is deemed compliant, an application for certificate registration is done. The VEECs can only be created by those who are accredited (an AP), such as Wattly. These are then sold to a liable party, such as an Energy Retailer.

Wattly is an AP under the Victorian Energy Upgrades (VEU). Before creating VEECs, evidence must be collected in the form of photographs, declarations, receipts and other documentation depending on the nature of the upgrade.

Wattly specialises in the VEU scheme through:

  • Streamlining the process of creating certificates. We work closely with all parties involved to collect, validate and quality check all evidence necessary to ensure all eligible certificates are registered.
  • Making payment quickly on submission of completed evidence. We understand cash flow is important and so we pay you when your evidence is complete before we sell the certificates.
  • Locking in the certificate price for you. We aggregate and trade certificates almost every day. This way we can lock in the best pricing and remove the risk of price volatility for you. Wattly has other payment models for larger creators.
  • Upfront payment to help your cashflow or for high volume partners Wattly can charge a registration fee and transfers the certificates upon registration to allow you to trade the certificates.
  • Leading App for Commercial Lighting. Wattly recently released its 4th generation app for commercial lighting. It provides real-time collaboration between installers in the field and staff in the office.
  • Highly experienced industrial and commercial consulting engineers who can identify energy efficiency opportunities throughout your client’s businesses.

Partnering with Wattly

Wattly partners with businesses involved in energy efficiency and renewable energy installations to enable them to financial based incentives under the state and federal schemes.

Wattly partners with both energy efficiency installation companies, electricians, equipment suppliers and end businesses performing upgrade

Get in touch

For further information, or to discuss how Wattly can help you, please call us.

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