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VEET

WHAT IS VEET?

The Victorian Energy Efficiency Target (VEET) scheme is a Victorian Government initiative promoted as Energy Saver Incentive.

Commencing on 1st January, 2009, the VEET scheme aims to encourage the uptake of energy efficient technology, targeted primarily at the residential sector.  The schemes fundamental target is to reduce greenhouse gas emissions from households by 10% by the year 2010 and Victoria's overall emissions to 60% by 2050.

The VEET operates by imposing a legal liability on large electricity and gas retailers in Victoria to contribute by acquiring and surrendering Victorian energy efficiency certificates (VEECs).

Under the scheme, only accredited persons are eligible to create VEECs for prescribed activities undertaken at residential premises.  Each VEEC created represents one tonne of carbon dioxide equivalent (CO2-e) abated by a prescribed activity.

The VEET scheme operates in three-year phases, with new scheme targets and prescribed activities set for each phase.  The first phase commenced on 1st January, 2009 and runs till 31st December, 2011.

VEEC Creation

WATER HEATING DECOMMISSIONING

Correct examples

  • Remove from site & delivered to recyclers / scrap metals with receipt
  • Remove heating element
  • Pieced hole in tank to drain
  • Chisel hole in tank
  • Tank naturally decays or rusts out
  • System over pressured blew out & burst

Incorrect examples

  • Disconnection of water pipes (as can be reconnected)
  • Cutting of wires (as can be re wired)
  • Disconnect and moved from position
  • Remove and cut off

VEET Calculators

Below are calculators for the different Victorian Energy Efficiency Certificates (VEECs)