One of the Victorian government’s election promises was to keep and strengthen the VEET as a prime instrument in reducing energy waste and unnecessary costs from Victoria’s households and businesses. Yesterday at the Energy Efficiency and Productivity Summit minister D’Ambrosio announced an increase in VEET targets and an increase from 3 to 5 year term for the scheme. This is a brave and wise investment into the Victorian economy as jobs will be supported in the transition and the return on investment of the reduction in waste energy will be significant over the medium to long term.
We applaud the minister for taking action and look forward to being part of the delivery of the benefits to households and businesses. We will be developing new and better offerings to take to the market to drive energy savings.
Ecovantage also looks forward to continuing to work with the government to broaden the VEET scheme to new activities and further refine existing ones.