Victorian Energy Upgrades (VEU) Program

1. Victorian Energy Upgrades (VEU) VEET has been changed to VEU now. VEET​ – Victoria’s very own and famous energy saving incentive program has recently got a new identity. Now, it is known as ​VEU​, which stands for Victorian Energy Upgrades. Whether you call it VEET or VEU, the ultimate goal of the program remains the same, i.e., explore new ways to reduce energy usage and power bills. This comes after the mandatory 10-year review of the ​VEET ​program, which clearly states that from 10 December 2018 onward, the Victorian Energy Efficiency Target (VEET) scheme will be officially known across the commission’s websites and documentation as the Victorian Energy Upgrades (VEU) program. The VEET scheme commenced in 2009 with an ambition to: Make energy upgrades affordable Help nation decrease greenhouse emission Generate employment Encourage innovation in energy efficiency tech and service industry For a decade, accredited service providers are helping Victorian households and businesses with energy efficiency upgrades. The program has permitted certain accredited providers to perform energy upgrades to keep the entire process foolproof and regulated. The accredited provider gets a​ Victorian energy efficiency​ certificate for each upgrade. Each certificate represents one tonne of greenhouse gas abated. Energy retailers are then required to buy and surrender these certificates to meet legislated targets. Source: ​https://www.timetosave.com.au/veet-is-now-veu/