Market Update | 4 April 2025

• VEECs and LGCs lose ground
• Federal Home Batteries Policy anticipated for release

Federal Government Expected to Announce Home Batteries Policy

Thursday morning saw the release of an announcement from the Federal Treasurer, Jim Chalmers, regarding the need to continue the transition to renewables.

While primarily focused on the progress made in the large-scale renewables space, the announcement comes amongst expectations that a federal home batteries policy is set to be supported by both major parties at the upcoming federal election.

This builds upon the success of the NSW government’s Battery Energy Storage System (BESS) activities under the Peak Demand Reduction Scheme (PDRS).

For businesses installing batteries and interested in understanding how they can access incentives under the PDRS, please contact the Ecovantage Account Management Team.

VEU Registry Shutdown: 23 May to 3 June

On Wednesday, the VEU released further information regarding the upcoming shutdown of the Registry to allow for a transition to the newly-developed platform. Included in the release was information on cutoff dates and expected timing for the outage.

From 23 May to 3 June, Accredited Persons (APs) will be unable to create, register or trade VEECs – representing a period of significant disruption, leading up to the annual end-of-financial year runup to submit activities completed during the previous calendar year.

APs have been advised that all 2024 activities should be audit passed and uploaded to the Registry before it’s closure to avoid delays of up to three months.

At Ecovantage, we consistently analyse market activity, policy changes, consultation releases, and creation rates in conjunction with wider landscape activity. This allows us to keep our clients at the forefront of all relevant changes, and to leverage the advantage that this presents. Thank you for your continued support, and please reach out if you have any general or project-specific questions.

Ben Lumley | Programs & Account Manager VIC
Ben specialises in VEU Activities (Residential Retrofits, Residential & Commercial Heat Pumps, Air Conditioning, Commercial Lighting), and ESS Activities (IHEAB Heat Pumps).