Plan ahead. Significant changes for lighting upgrades start 1 February 2023
On 1 February 2023, the Victorian Energy Upgrades program will bring changes impacting Lighting Upgrades.
ARE YOU planning for the impact of these changes on your business?
Changes include, but are not limited to:
Removal of some upgrade scenarios from claiming VEECs
Reduction of VEECs created for some scenarios
Our top tips for navigating these changes
For jobs you have quoted under current calculation factors, be sure you complete those installations by 31 January 2023 to secure the VEEC return you budgeted for the project.
For jobs you are currently quoting, check that they are eligible under the new Commercial Lighting rules and give yourself room to adjust.
Book a meeting with one of the experts in our VEU Commercial Lighting team. We can discuss the most common upgrade scenario you target in Victoria and the impact you might expect from these changes in the new year.
Consider alternatives and potentially untapped markets around Australia for different ways to maximise the value of your LED lighting stock. The National Carbon Bank of Australia team specialises in the NSW Energy Efficiency Scheme and opportunities in QLD under the ERF. Book a meeting with one of our ESS and ERF Commercial Lighting experts.
Increased audits and market shifts
Following these changes, we anticipate increased audit requests from the Essential Services Commission (ESC). Evidence and documents will be scrutinised. The ESC will ensure the upgrades and claims made are under the change in regulations for commercial lighting.
The value of the VEECs, of course, is subject to change. Just like stocks in a market. With no crystal ball, we can’t say which way the prices will go. But we know that fewer VEECs will be created for activities, and VEEC targets will increase. Prices will respond to these new market conditions.
Our passionate team of lighting experts are here to help you navigate these changes for your business. So book a meeting today to prepare yourself before the summer break.
CALL US: 1300 077 784