The Victorian Energy Efficiency Target (VEET) scheme, otherwise known as the Energy Saver Incentive (ESI), is a Victorian government scheme enabled by the VEET Act 2007.

The scheme is designed to make energy efficiency improvements more affordable, contribute to the reduction of greenhouse gases, and encourage investment, employment and innovation in industries that supply energy efficiency goods and services.

Initially only available to the residential sector, the VEET scheme was expanded to include the business sector in December 2011.

In essence, the scheme framework requires utilities (electricity and gas retailers) to purchase energy efficiency certificates to satisfy a specified quota. These certificates are created through providers (Accredited Persons, or APs) who offer energy efficiency services, like installing efficient light globes or high efficiency hot water systems.  

Every certificate created is equal to one tonne of carbon emission saved. The creation and surrendering of these certificates has saved millions of tonnes of greenhouse gas in Victoria, and furthermore, as these certificates are worth money, the APs are able to offer the energy efficiency services (installation of light globes for instance) at a reduced or no cost to the end user. The biggest opportunity for CitySwitch Signatories under the VEET scheme is for commercial lighting upgrades. 

A full listing of business-specific activities will be made available shortly once the regulations are adopted by the government, from which time APs in Victoria will be able to undertake the installations of activities and creation of certificates. For a list of participating APs, visit the Register of Participating Businesses link for the contact details of all Accredited Persons in Victoria.

For more information please visit the Victorian Energy Efficiency Target website.

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