Victoria expands world-leading energy efficiency scheme 25 August 2015
Today the energy efficiency industry applauded the Victorian Government for expanding the Victorian Energy Efficiency Target (VEET), which is also known as the Energy Saver Incentive.
The VEET is a world-leading program that provides an incentive for homes and businesses to save energy. Eligible energy efficiency activities generate certificates based on how much gas or electricity they save. To date, the VEET has saved homes and businesses millions of dollars off their energy bills.
The Victorian Minister for Energy, Lily D’Ambrosio MP, announced that Victoria would expand the VEET at 9:30am today at the Government’s ‘Energy Efficiency and Productivity Summit’ at the Melbourne Convention and Exhibition Centre.
“The Energy Efficiency Council welcomes the Victorian Government’s commitment to raise the Victorian Energy Efficiency Target. As Lily D’Ambrosio, the Minister for Energy, said, this will lower bills for homes and businesses while creating more jobs in the energy efficiency sector,” said Luke Menzel, CEO of the Energy Efficiency Council.
The Victorian Government extended the next phase of the scheme from 3 years to 5 years, providing more certainty to industry. The government also ramped up the target by 20 per cent over 5 years, from 5.4 million certificates in 2016 to 6.5 million certificates in 2020.
“Expanding the scheme will create jobs in Victoria and help homes and businesses save energy. The scheme makes it cheaper for homes to cut drafts and install efficient lights, heating systems and appliances” said Luke Menzel.
The Victorian Government announced the following targets for the VEET from 2016 to 2020:
2016 5.4 million certificates
2017 5.9 million certificates
2018 6.1 million certificates
2019 6.3 million certificates
2020 6.5 million certificates
For more information on this media release, contact:
Executive, Policy & Advocacy, Energy Efficiency Council
T: 0414 065 556