Victorian Energy Efficiency Certificates (VEECs)

The Victorian Energy Efficiency Target (VEET) is the first of it's kind in Australia and was set up to give financial incentives to Victorian households that become more energy efficient.

The mechanics of the VEET Scheme

Under the VEET Scheme, householders are allocated a set number of Victorian Energy Efficiency Certificates (VEECs) if they undertake one of the accredited activities. The paperwork to create the VEECs can then be sent to Green Energy Trading, and once this has been done and verified we pay you directly. After we've created the VEECs, we trade them in the market where they're purchased by Victorian energy retailers. These organisations have a legal obligation to support energy efficiency and must buy a set number each year. One VEEC represents one tonne of carbon dioxide equivalent (CO2-e) abated by one of the scheme's activities.

Green Energy Trading creates VEECs for water and space heating

• Water heating - decommissioning low efficiency water heating products and installing high efficiency water heating products (solar and gas). This category also includes installing solar pre-heaters or solar retrofit kits.

• Space heating -  decommissioning low efficiency ducted heating products and installing high efficiency ducted and space heating products.

How much can I get for my VEECs?

First work out how many VEECs you can get - you can do this on the VEEC calculators page. Then you'll need to multiply this number by today's VEEC price which you can find here.

How long do I have to create my VEECs?

VEECs can only be claimed within 6 months of the end of the calendar year in which the system was installed. After June 30 VEECs are not able to be created for activities from 2009 and we are no longer accepting these assignment forms.

How to create VEECs

We've set out all the paperwork you'll need so your VEECs can be created. Visit the Paperwork page for details.

The Essential Services Commission administers the VEEC scheme and you can find more information on their website http://www.esc.vic.gov.au/public/.