Victorian Energy Upgrades is a Victorian Govt initiative to encourages investment, employment, and innovation in the energy efficiency space. This program can help you save money on upgrade costs, reduce your energy bills, and help the environment by providing access to discounted energy efficient products and services.
Project-based activities incentivises businesses for large and custom VEU projects and most appropriate for larger-scale upgrades because of the complexity of the process. The suitable sites for PBA are energy-intensive facilities such as hospitals, manufacturers, and data centres and the types of projects that might be carried out
- Industrial and commercial refrigeration
- Switching to low-emission fuels
VEU program works through generating and selling Victorian Energy Efficiency Certificate (VEEC). Greenhouse gas savings associated with the installation of an energy efficient product and/or decommissioning of an inefficient product determines the number of VEECs that can be created. Each certificate or VEEC represents 1 tonne of CO2 abatement over a 10-year period and Energy Retailers (Liable Entities) are required to purchase and surrender VEECs on a yearly basis to meet their targets.
CarbonetiX is an accredited provider to undertake VEU and PBA projects under the Victorian Energy Efficiency Target (VEET) scheme. We go the extra step to provide our clients with significant financial incentives to reduce project costs and return on investment figures. Once all the compliance requirements from the efficiency upgrade are met the energy savings can be registered as Victorian Energy Efficiency Certificates (VEECs). In return for the assignment of VEECs to CarbonetiX we can return the financial incentive back to you in the form of a rebate. We have in-house M&V expertise to help you find out whether it will suit your projects.