Energy Saver Incentive (ESI)
The Energy Saver Incentive (ESI) is also known as the Victorian Energy Efficiency Target (VEET) scheme.
The scheme is helping Victorians cut power bills and reduce greenhouse gas emissions, by giving households and businesses access to discounted energy efficient products and services.
The scheme works by setting a statewide target for energy savings that results in a range of energy efficient products and services being made available to homes and businesses at a discount.
Through the scheme, Victorian houses and businesses can access a range of energy efficiency products and services. Businesses that provide these services can generate Victorian Energy Efficiency Certificates, which deliver incentives to households and businesses that choose to participate. The number of certificates generated is based on the greenhouse gas savings associated with the eligible product or service.
Products must be professionally installed by an approved participating business. Incentives for the purchase of some appliances may be available at point of sale at participating retailers. Consumers should check with a participating business prior to purchase.
Energy retailers must meet an annual greenhouse gas emissions target through surrendering Victorian Energy Efficiency Certificates. Retailer liabilities are created through the setting of greenhouse gas reduction rates to a level that enables the target to be met.
The scheme is market-based and places a legal requirement on energy retail companies through the Victorian Energy Efficiency Target Act 2007 and the Victorian Energy Efficiency Target Regulations 2008.
The scheme is administered by the Essential Services Commission, which is the independent regulator of the retail energy industry in Victoria. Its role is to oversee compliance and performance reporting by energy businesses, and to accredit businesses and products and appliances which are eligible under the scheme.
Consultation on proposed changes to the Victorian Energy Efficiency Target (VEET) scheme has now closed. Thank you to all who made a submission. The Department will now consider all feedback and will publish a summary and response to submissions once any decisions are finalised.
All of the consultation documents remain available on this website via scheme documents
On 25 August 2015 the Victorian Government announced that the ESI scheme targets for 2016-2020 are:
Amount of Victorian Energy Efficiency Certificates (VEECs)
Target in tonnes CO2-e GHG abatement
|2016||5.4 million||5.4 million|
|2017||5.9 million||5.9 million|
|2018||6.1 million||6.1 million|
|2019||6.3 million||6.3 million|
|2020||6.5 million||6.5 million|
The ESI scheme will continue to be strengthened in 2016. This will include broad community and industry consultation.
For information on the operation of the scheme, contact the Essential Services Commission or call (03) 9032 1310.
If you are interested in what you can do to improve the energy efficiency of your home or business visit the Switch On website.
For further information, you can contact us directly at email@example.com
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