ENERGY SAVER INCENTIVE VICTORIAN ENERGY EFFICIENCY TARGET (VEET) SCHEME

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Building Management Systems – Energy Saver Incentive: VEET Scheme

Energy Saver Incentive

Victorian Energy Efficiency Target (VEET) scheme

Rod Woolley, Manager VEET

Talking points

VEET scheme can:

• reduce the cost of a lighting upgrade (but by how much?)

• Allow you to access other incentives (but how and under what conditions?)

How the scheme works

• Consumers engage a third party to replace inefficient products with energy efficient products

• The energy saved by the retrofit is converted to greenhouse gas savings

• The greenhouse gas savings are converted to certificates (VEECs)

• Certificates are sold and traded, creating a market that dictates their value

Commercial lighting

• Commercial lighting upgrades are eligible to create certificates

• Variety of different upgrades are eligible, including:

  • T8 linear fluro

  • downlights

  • high bays

  • T5 linear fluoro Linear LED

  • T5 high bays, LED, Induction

Calculating the incentive

Size of the incentive? It depends on:

• the nature of the upgrade (quantity of energy savings)

• value of the VEECs at the time

• the portion of that value that the installation company decides to pass through to the consumer

Some basic examples of incentive costs:

Existing lighting	Quantity	Upgraded lighting	Quantity	VEECs (approx.)	VEEC value (assumed)	Incentive
36W T8 linear fluoro luminaires (magnetic ballasts)	100	22W T5 linear fluoro luminaires (electronic ballasts)	100	50	$15	$750 (minus AP fee)
50W halogen downlights (electronic ballasts)	100	10W LED downlights (with new LED drivers)	100	80	$15	$1,200 (minus AP fee)
400W metal halide high bays (electronic ballasts)	100	200W LED high bays	100	650	$15	$9,750 (minus AP fee)

Existing lighting	Qty	Upgraded lighting	Qty	VEECs (approx)	VEEC value (assumed)	Incentive
36W T8 linear fluoro luminaires (magnetic ballasts)	100	22W T5 linear fluoro luminaires (electronic ballasts)	100	50	$25	$1,250 (minus AP fee)
50W halogen downlights (electronic ballasts)	100	10W LED downlights (with new LED drivers)	100	80	$25	$2,000 (minus AP fee)
400W metal halide high bays (electronic ballasts)	100	200W LED high bays	100	650	$25	$16,250 (minus AP fee)

Accessing the incentive

Finding an accredited company

• The ESC approves companies that can create certificates

• Listed on the Participants Register of the VEET website (search under Schedule 34 Lighting Upgrade)

Important considerations

• Lighting industry experience of accredited companies varies

• Lighting product performance varies

• Different companies are approved to install different products

• Portion of VEEC value that accredited companies pass through varies

• Clients should apply usual due diligence processes

Where to go for help

Useful resources

• Victorian Government Switch On¹: Energy Saver Incentive

• VEET²

• EcoDev³

• Email⁴

VEET Support

• Email⁵

• (03) 9032 1310

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Tags: energy saver, on1: energy, energy, efficiency, victorian, saver, (veet), target, scheme, incentive

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