Profiting From The Victorian Energy Efficiency Target (VEET)
The Victorian Energy Efficiency Target (VEET) makes it cheaper for both businesses and householders to improve their energy efficiency.
Since launching in January 2009, VEET provides a rebate for replacing old, inefficient appliances or sealing windows. A major area is getting rid of halogen lights and fluorescent tubes, and replacing them with LEDs, creating a fantastic opportunity for electrical contractors.
How You Can Get Started With VEET
VEET works like this:
- The first step is to fill out some online forms and become VEET accredited.
- Once accredited, VEET covers a lot of activities that are eligible for a rebate, including the replacement of old or inefficient lighting with newer more efficient fixtures.
- For each activity, the reduction in carbon dioxide emissions is calculated. The contractor can create and register one Victorian Energy Efficiency Certificate (VEEC) for each tonne of carbon dioxide emissions avoided.
- Once created, these VEECs can then be sold to companies that need to buy them, usually electricity generation companies. The selling process is made simple through specialist VEEC trading companies.
This produces a win-win for both the original customer and the contractor:
- The customer benefits from reduced ongoing energy costs.
- As a result of selling the VEECs, the contractor can significantly reduce the price of the energy efficiency upgrade.
That makes for a really attractive proposal for both contractors and their customers.
How You Can Get Help From Ecocycle
Not surprisingly, there is a lot of regulation around the scheme. For one thing, the contractor needs to provide proof that the replaced equipment has been destroyed before VEECs can be created. That’s where Ecocycle comes in.
We provide a convenient collection service for all types of lighting waste, and supply contractors with certification that the lamps have been destroyed. More importantly, we make sure that all old lighting waste is properly recycled. This is critical in the case of mercury-containing lighting waste such as fluoro tubes and lamps, many high bay lights and other types of high-intensity lighting.
The other thing to be aware of is that the scheme is closely audited by the government to ensure the work has actually been performed. Dodgy operators will be caught out.
The Even Easier Way
If becoming accredited seems like too much work, don’t be put off. There’s an easier way for sparkies to benefit from the VEET. Our recycling partners, Ecovantage and LEDified both offer solutions that can take care of all the paperwork.
See the VEET website for full details of the scheme.
And for a responsible solution to managing all of your lighting waste, give us a call on 1300 32 62 92 or complete the form below.