Victorian Energy Upgrades program (VEU)
What is the Victorian Energy Upgrades program?
The Victorian Energy Upgrades program (VEU) is an initiative by the Victorian government to encourage households and businesses to invest in energy efficient products. Previously known as Victorian Energy Efficiency Target (VEET), this program makes it easier and cheaper for you to make energy-efficient upgrades for your business such as LED lighting upgrades.
How does the Victorian Energy Upgrades program work?
When you invest in an LED lighting upgrade, we will calculate the reduction in energy consumption during our assessment. For each tonne of greenhouse gas abated, The Green Guys Group in partnership with an Accredited Provider will create one Victorian Energy Efficiency Certificate (VEEC). Liable third parties such as energy retailers then will purchase these VEECs. Finally, the value of the VEECs is then returned to you in the form of a discount or rebate towards the total lighting upgrade cost.
A 40% reduction on the on rebates for commercial lighting upgrades will come into effect from 31 March 2021 and reduced further to 60% by 31 January 2022. The rebates are scheduled to cease completely for some lighting activities or types by 31 January 2023.
What does this mean to me?
This means that you can get an LED lighting upgrade at a greatly reduced cost before the rebates cease. To this date, we have accessed over $60M in total in government subsidies for our valued clients. Subsidised upgrade plus immediate savings on your energy bills mean greater-than-ever Return on Investment (ROI) for your business. Get a FREE quote today and start saving!