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About VEU

Homelab is accredited with Essential Services Commission to perform energy efficiency and energy saving services under State Government's VEU (previously VEET) scheme.

The Victorian Energy Upgrades (VEU) scheme is a Victorian Government initiative promoted as the Energy Saver Incentive. The purpose of the VEU scheme is to reduce greenhouse gas emissions, encourage the efficient use of electricity and gas, and to encourage investment, employment and technology development in industries that supply goods and services which reduce the use of electricity and gas by energy consumers.

The scheme operates by placing a liability on large energy retailers in Victoria to surrender a specified number of energy efficiency certificates every year. The Act and the Victorian Energy Efficiency Regulations 2008 allow for accredited entities, known as Accredited Persons, to create VEECs when they help energy consumers make selected energy efficiency improvements to their homes, business premises or other non-residential premises. These improvements are specified in the Regulations and are known as Prescribed Activities. Revenue generated through the sale of VEECs enables Accredited Persons to offer energy consumers special benefits that may reduce the cost of undertaking these energy efficiency improvements.

Once an Accredited Person has successfully completed a Prescribed Activity on behalf of an energy consumer, that energy consumer must sign what is known as a VEEC assignment form. By signing the VEEC assignment form, the energy consumer 'assigns' to the Accredited Person the right to create the VEECs relating to that particular Prescribed Activity. The VEEC assignment form contains important information that the Accredited Person will need in order to create VEECs.

The Accredited Person uses the information on the VEEC assignment form - such as the consumer's name and address and details of the product installed - to complete a VEEC creation application via their online account platform. After the submitted data passes detailed quality checks - including being matched against an address database - a specific number of VEECs are created. 

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