The Australian government is committed to reducing up to 62% carbon footprint by 2030. Since Australia ranks in the top 10 countries that emit the most greenhouse gases per capita, the VEU program is created to solve this problem.
iPromise is one of the VEU program providers. We want to explain the Victorian Energy Upgrades- VEU program deeper for those businesses or citizens that want to upgrade their illumination system or implement solar solutions.
What is the VEU program?
The VEU program, known as the Victorian Energy Efficiency Target or VEET, is a government strategy. Under the VEET law that started in 2009, the Essential Services Commission aims to offer products and services that will improve the electrical energy inside houses and businesses.
The Australian Energy Upgrades- VEU programs offer a complete catalogue of options to save energy at low costs or free such as showerheads, environmental regulators, and lightning. Also, people can access subsidies to replace big home appliances like heat pumps and heating.
Since the VEU program started, greenhouse gases in Victoria have been reduced by more than 60 million tons. Under this premise, the expected reductions between 2022 and 2025 are more than 28 million greenhouse gastons.
The VEU program was designed to help Victorians reduce the energy bills and the emissions of toxic gases from each house and business, offering products and services with low consumption, financing, and discounts to the providers.
The objectives of the consumption reduction
One of the objectives is to make a Victorian energy comparison between the average energy consumption and the changes with the energy upgrades.
In the average home, the consumer can save up to $110 on the energy bills inside the VEU program; the expectations are that these savings increase between $120 to $1100 per year under emissions reductions from emissions reductions 2020 to 2025.
Businesses save up to $3.500 in the year. And with the new objectives, from 2020 to 2025, the expectations are from $500 to $74.000.
The principal reduction objectives
By 2025, they expect more than 7 million certificates generated and 7,3 million greenhouse gases reduced.
The VEU providers
The customer must acquire the products or services with a certificated provider to assure the quality of the products, the installation will be professional, and a guarantee if the product has some defects.
The providers that are part of the program must have to achieve the following characteristics:
- Offer energy, gas, or both to the customers.
- Acquire a scheme defined in the VEET law.
- Has more than 5000 customers that consume their services or products, gas or energy.
- Realise an acquisition program of 30.000 MWh or more in energy.
- Realise an acquisition program of 350.000 GJ or more in gas.
The accredited providers that offer the incentives inside the VEU scheme generate Victorian Energy Efficiency Certificates (VEEC). The incentives and the economic support depend on the industry the business is part of and the price of the certificate.
The creation of each certificate represents one tone of toxic gases produced, which is why it is crucial to count on these certificates.
Remember, the prices per certificate depend on the market’s offer and demand and the products and services.
Finding quality service and certificated professionals could be demanding. Still, at iPromise, we fulfill all the requirements necessary to help your business or home, support the environment and save money.
We are 100% Australians with more than 10 years of experience in the energy industry. We can guarantee our customers the best and most personalised solar and energy efficiency solutions.
