Introduction (source DPI)
The Energy Saver Incentive (ESI) is also known as the Victorian Energy Efficiency Target (VEET) scheme.
The scheme is helping Victorians cut power bills and reduce greenhouse gas emissions, by giving households and businesses access to discounted energy efficient products and services.
The scheme works by setting a state wide target for energy savings that results in a range of energy efficient products and services being made available to homes and businesses at a discount.
Through the scheme, Victorian houses and businesses can access a range of energy efficiency products and services. Businesses that provide these services can generate Victorian Energy Efficiency Certificates, which deliver incentives to households and businesses that choose to participate. The number of certificates generated is based on the greenhouse gas savings associated with the eligible product or service. Products must be professionally installed by an approved participating business. Incentives for the purchase of some appliances may be available at point of sale at participating retailers. Consumers should check with participating business prior to purchase.
Energy retailers must meet an annual greenhouse gas emissions target through surrendering Victorian Energy Efficiency Certificates. Retailer liabilities are created through the setting of greenhouse gas reduction rates to a level that enables the target to be met.
The scheme is administered by the Essential Services Commission, which is the independent regulator of the retail energy industry in Victoria. Its role is to oversee compliance and performance reporting by energy businesses, and to accredit business and products and appliances which are eligible under the scheme
How can Trade In Green Help?
Trade In Green no longer manages the creation of VEECs from July 2024. We do buy and sell registered VEECs
