How VEET Scheme for Victorian Households Works_ What’s in it for you_

How VEET Scheme for Victorian Households Works? What’s in it for
you?

Victorian Energy Efficiency Target (VEET) scheme commenced in January
2009 aims to make the shift from old lights to the new, energy-saving LEDs
which are affordable and feasible for the Victorian households and
businesses. With VEET Scheme for Victorian Households, the federal
government wants to achieve nation’s goal of reducing greenhouse gas
emissions.
This initiative comes under the Victorian Energy Efficiency Target Act 2007
and is administered by the Essential Services Commission (ESC)which
regulates all the activities carried out under the program. This scheme will
operate until January 2030 and the authorities aim to achieve the target well
within stipulated time.

How VEET Scheme Works?
To make energy upgrades more viable and affordable for everyone in
the state, the VEET scheme is channeled to the end users through the
Accredited Persons (APs) who are appointed and authorized by the
governing body to issue Victorian Energy Efficiency Certificates
(VEECs). The certificates determine the amount of subsidy or rebate
applicable to an energy upgrade.
How many VEECs need to be created for an energy upgrade are determined
by the AP on basis of greenhouse gas abatement through installation of
energy efficient products.One certificate, generally, is equal to one tonne of
CO2 abated through installation of LED products. More the VEECs, higher
the amount of CO2 abated, hence more subsidy for a consumer.

What’s in it for me?
These certificates are created strictly in accordance with the VEET
Act and specified guidelines. Marketing practices and installation
activities carried out by the APs and their representatives have to
abide by the guidelines of the ESC for a smooth functioning of the
scheme.
Only A-grade electricians can swap old lights with new energy-efficient lights.
This is initiated with booking a free appointment and assessment of the property.
All the products installed, whether it’s a residential or commercial property, are
approved under the VEET scheme.The installer cannot install a product and
brand not approved under the scheme.

Well, the energy-efficient LED lights replacement under the VEET scheme
offers 80% energy saving as compared to old lights.LED lights are highly
energy efficient because LEDs don’t heat up and 85% or more electric
energy is converted into light. The movement of electrons in a
semiconductor material for illumination is the reason for low energy
consumption.
Like discussed before, the sole purpose of the government initiative is to
make energy upgrades affordable so that you end up giving away less
money to your energy retailer as utility bill. And what’s more, you will save
hundreds or even thousands of dollars on maintenance cost fixing blown
bulbs.
Source:https://www.timetosave.com.au/how-veet-scheme-forvictorian-households-works-whats-in-it-for-you/