Victorian Energy Upgrades Program
The Victorian Energy Upgrades (VEU) program is a government initiative designed to help Victorian households and businesses reduce their energy bills and greenhouse gas emissions. This program offers rebates or discounts on a variety of energy-saving products.
Victorian Energy Efficiency Certificates (VEECs)
Every upgrade under the VEU program generates Victorian Energy Efficiency Certificates (VEECs). Each VEEC represents one tonne of greenhouse gas emissions prevented from entering the atmosphere. Accredited providers sell these certificates to energy retailers, such as Time To Save, who use them to meet annual emissions targets set by the Victorian Government.
Incentives and Discounts
The incentives or discounts available to households and businesses under the VEU program can vary based on market activity and the current certificate price. The Essential Services Commission regulates and administers the program, accrediting providers and approving the products eligible for installation.
Small-scale Technology Certificates (STCs)
When you install a new renewable energy system, such as an efficient heat pump or solar hot water system, your system may also be eligible for Small-scale Technology Certificates (STCs). These certificates represent a payment made to purchasers of small renewable energy systems, reflecting the value of the emissions reductions they create. The quoted price from your installer typically includes the STC discount, providing immediate savings on your investment.
Solar Vic Rebate
Installing an efficient heat pump or solar hot water system can help control costs and save energy. The Solar Homes hot water rebate is designed to help cover the cost of these energy-efficient upgrades.
Eligibility for Solar Homes Hot Water Rebate
As a Victorian householder, you could be eligible for a hot water rebate if you meet the following criteria:
- You are the owner-occupier of an existing property where the system is to be installed.
- The combined household taxable income of all owners is less than $210,000 per year.
- The value of the property is under $3 million.
- The property address has not previously received a hot water or solar battery rebate under the Solar Homes Program.
- The hot water system being replaced is at least three years old from the date of purchase.
- If you received a Solar Homes rebate and/or loan but have moved, you can apply for another incentive at your new address as an owner-occupier if the property has not received these rebates before.
At Energysaversau Pty Ltd, we will guide you on which rebates are applicable for your household.