At a Glance
$440 million in VEU rebates distributed in 2024.
Over 355,000 households and 16,000 businesses received discounted energy-efficient upgrades.
New initiatives include electrification incentives, induction cooktop trials, and expanded eligibility for heating and cooling upgrades.
9 in 10 participants reported satisfaction with the VEU program.
Strengthened consumer protections, including bans on telemarketing and doorknocking.
The Victorian Energy Upgrades (VEU) program has had a transformative impact in 2024, delivering nearly $440 million in rebates to help Victorian households and businesses adopt energy-efficient technologies. This significant milestone reflects the program's commitment to reducing energy costs and supporting the transition to a sustainable future.
Key Achievements in 2024
1. Widespread Adoption of Energy Efficiency: Over 355,000 households and 16,000 businesses across Victoria took advantage of VEU rebates to access discounted energy-efficient products and services.
2. Pioneering New Activities: This year saw the launch of several innovative activities, including:
Induction cooktop: Encouraging households to switch to efficient, electric cooking solutions.
Expanded heating and cooling upgrades: Broader eligibility criteria and increased incentives for reverse cycle air conditioners.
Water heating upgrades: Enhanced support for heat pump water heaters.
3. Growth in Electrification: Electrification has gained momentum since its introduction in mid-2023. This year, more than:
24,000 Victorians upgraded to efficient electric heating and cooling systems.
34,000 households transitioned from gas water heaters to heat pump water heaters, reducing emissions and energy bills.
4. Participant Satisfaction: According to 2024 market research conducted by the Department of Energy, Environment, and Climate Action (DEECA), 9 in 10 participants reported satisfaction with the VEU program and the products installed.
5. Community and Stakeholder Engagement: The program engaged with communities through consultations, webinars, and key events like the All-Energy conference, fostering greater awareness and collaboration.
6. Stronger Consumer Protections: To ensure fairness and transparency, new consumer protections were implemented, including:
Bans on telemarketing and doorknocking to promote ethical practices.
Upcoming changes, such as minimum copayments and warranty requirements for certain activities, set to take effect on 1 February 2025.
Looking Ahead
The achievements of 2024 underscore the VEU program's role in driving Victoria toward a cleaner and more energy-efficient future. With enhanced consumer protections and ongoing innovation, the program is set to deliver even greater benefits in the years to come.
Stay updated on the latest developments and discover how you can benefit from the VEU program by visiting www.saharaenergy.com.au
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