Rebranding and Expanding: VEET Upgraded to VEU Program
Businesses have been hit hard by rapidly rising power bills, but some simple upgrades can make a big difference.
The Victorian Government has been helping make these upgrades more affordable for businesses since 2009, through the Victorian Energy Efficiency Target or VEET program.
Since it started, the scheme has saved householders and businesses hundreds of millions of dollars and reduced Victoria’s greenhouse gas emissions by more than 40 million tonnes.
The scheme has also been upgraded, including rebranding as the Victorian Energy Upgrades (VEU) program.
What does this mean for you?
One of the key areas where businesses of all sizes can save under the VEU program is lighting.
As well as rebranding, the VEU program has expanded to include larger businesses and lighting upgrades in public and outdoor spaces, open air car parks, and sporting fields, tunnels and underpasses.
With the VEU rebates available on the cost of LED lights, and electricity savings over the long-term, you might as well be burning money if you’re still using incandescent bulbs in your business!
How can I benefit from a lighting upgrade under the VEU program?
Lighting accounts for up to 25% of energy costs for business. According to Sustainability Victoria, light emitting diodes (LEDs) and compact fluorescent lamps (CFLs) will save you about 80% in energy costs compared with halogen and other incandescent lights.
Intelligent control using motion sensors and daylight harvesting can save a packet, and the new lamps last much longer.
LED and CFL lights are also much cooler to run, meaning your workplace will be more comfortable in summer, with potential for lower air conditioning costs.
Make the most of generous rebates
With rebates offered by the VEU program, most commercial lighting upgrades pay for themselves within 10-16 months. After that, the savings just add to your bottom line.
At ESIC Lighting, we pride ourselves on knowing the best products and tailoring a lighting solution to suit your business, no matter your industry or size.
We can also advise on all government rebates. Contact us to find out if your business is eligible for the VEU program.