Victoria is ramping up its efforts towards a more energy-efficient, electrified future with a new public consultation focused on the state's flagship energy savings initiative, the Victorian Energy Upgrades (VEU) program. This consultation is a key part of the VEU Strategic Review, which invites input from the public, business, and consumer organisations. The goal is to ensure that the program continues to support households and businesses in reducing emissions and saving energy while contributing to Victoria’s long-term commitment to renewable energy and electrification.
The consultation provides a chance for various stakeholders to express their opinions on what has worked well in the VEU program, suggest new priorities, and discuss how it aligns with Victoria's net-zero and renewable energy targets. Input will help shape how the program continues to deliver benefits as the state shifts to an electrified economy powered by renewable energy sources.
VEU Program's Strategic Review and Investment
Announced in the 2024/25 State Budget, the VEU Strategic Review comes with a $5.9 million investment aimed at strengthening the program over two years. The review is led by Solar Victoria and aims to ensure that the VEU can scale up to meet growing energy efficiency demands, further supporting the state's shift to cleaner energy.
Key industry and consumer organisations will be engaged through the process, ensuring that the review represents the interests of diverse stakeholders. The focus is on electrification and energy efficiency, with the review expected to provide valuable insights into how the program can evolve to support Victoria's ambitious climate goals.
Stakeholder Reference Group: Key Industry Voices at the Table
To guide the VEU Strategic Review, the Victorian Government has appointed several key organisations to a Stakeholder Reference Group. This group will play a crucial role in shaping the future of the VEU program. The organisations include:
- Energy Consumers Australia
- Environment Victoria
- Victorian Council of Social Services
- Australian Energy Council
- Energy Efficiency Council
- Clean Energy Council
- Smart Energy Council
- Energy Savings Institute of Australia
The first meeting of the Stakeholder Reference Group took place in August 2024, marking a pivotal moment in the review process. These organisations will collaborate with the government to ensure the VEU program remains fit for purpose as Victoria works to make electrification a reality for homes and businesses.
The Public Consultation and What’s at Stake
The consultation process is open to input until 22 September 2024, providing an opportunity for members of the public and businesses to share their insights on the program. Victoria’s largest energy efficiency program, the VEU, has already delivered significant benefits. Since 2009, the program has provided support to more than 2.4 million homes and 170,000 businesses across the state. This support has translated into over 84 tonnes of emissions reductions, helping Victorian households and businesses slash energy bills while making substantial contributions to the state’s overall climate targets.
The VEU offers discounts on energy-efficient appliances like reverse-cycle air conditioners and heat pump water systems, with plans to expand to induction cooktops later in 2024. These upgrades not only reduce emissions but also deliver significant savings on energy bills for participants.
Why the VEU Program Matters for Victoria’s Future
As Victoria aims for 65% renewable energy generation by 2030, 95% by 2035, and net-zero emissions by 2045, the VEU program plays a critical role in meeting these targets. The Strategic Review will ensure that the program is ready to continue delivering its benefits at scale, keeping pace with the state’s climate commitments and addressing the evolving needs of Victorian businesses and households.
In a statement, Stan Krpan, CEO of Solar Victoria, said the program is poised to become a key driver of the state's electrification efforts. “We’re giving the VEU an upgrade of its own – to make it more modern and efficient,” he said. He emphasised that the program’s evolution is essential for helping more households and businesses transition to electric solutions that lower power bills and cut emissions.
The review, therefore, aims to bolster the VEU program as it evolves to support Victoria’s ambitious goals of achieving a net-zero and fully electrified energy system in the coming decades. Input from the public and key industry players will help shape the future of this transformative program, ensuring it continues to benefit all Victorians while playing a crucial role in the fight against climate change.
For more information on the consultation, visit Victoria’s Energy Upgrades website and participate in shaping the future of energy efficiency.
Article information source: Solar Victoria - Consultation underway to ensure energy savings support for our electric future
