What is Victorian Energy Upgrades?
What is Victorian Energy Upgrades?
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Ready to trade your VEECs?
If you're an installer, register with Greenbank and we'll get you set up and ready to trade in no time!
Our state-of-the-art installer portal and app make trading a breeze. Join us and experience the future of trading rebates all in one place!
Visit VEU Registry (veu-registry.vic.gov.au) to calculate your VEECs with ease.
FAQ's
- What is a VEEC?
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Victorian Energy Efficiency Certificates (VEECs) are electronic certificates created in accordance with the Victorian Energy Efficiency Target Act 2007 (VEET Act). They encourage the uptake of energy efficient technology and play an important role in achieving the Victorian government’s target of reducing greenhouse gas emissions from households.
- How do I claim payment for my VEECs?
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The Greenbank VEEC Assignment form must be completed. Forms can be downloaded at http://www.green-bank.com.au/veec/forms. All information requested on the form must be provided as it is required by the ESC for the creation of VEECs. Supporting documentation must be provided with the form to complete your claim. A copy of the plumbing certificate of compliance and a copy of the invoice from the installer/supplier must be provided with the VEEC form. Claims cannot be processed without copies of both supporting documents.
If the system is owned by a business, GST is payable on the VEEC transaction, thus a Tax Invoice needs to be provided to Greenbank for payment to be made.
- What is the value of a VEEC?
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The value of a VEEC fluctuates based on supply and demand. These are drive by the annual target, the creation and the liable entities liability. Since VEECs are tradable, their worth can change daily. Fear not! Once Greenback gets your forms spot on, we'll set the price for you. Stay in the know with our daily rates available on our home page
- Is my system eligible for VEECs?
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VEECs can only be created from prescribed activities undertaken on or after 1 January 2009 and before 1 January 2030. An old system, capable of working, must be decommissioned and a new, registered product installed. For the complete list of activities and registered products visit:
https://www.veu-registry.vic.gov.au/Public/ActivitiesPostcodeSearch.aspx
https://www.veu-registry.vic.gov.au/Public/ProductRegistrySearch.aspx
- How many VEECs am I eligible to create?
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The Essential Services Commission regulates the creation of VEECs and has calculators available on their website to assist in determining the number of eligible VEECs.
https://www.veu-registry.vic.gov.au/Public/Calculator/VEECCalculator.aspx
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