A VEEC is a tradeable certificate created when an approved energy-efficiency upgrade is installed in a Victorian home or business. Each certificate represents one tonne of greenhouse gas emissions avoided. They exist so that energy retailers can meet a legal obligation, and the price they pay flows back to the people who install the upgrades.
Where VEECs come from
The Victorian Energy Upgrades program lets households and businesses make approved improvements, such as replacing a heating and cooling system, upgrading lighting or installing efficient hot water. Each approved activity has rules on products, installers and the calculation of certificates. The Essential Services Commission administers the scheme and keeps the registry.
Who buys them
Victorian energy retailers have annual targets and must surrender enough VEECs to meet them. That demand supports the price, which has been roughly $85 to $95 in 2026 with a record near $110.
How the value reaches the customer
In most cases an accredited provider creates the certificates and sells them, and passes part of the value to the customer as a discount at the point of sale. That is why some Victorian customers see a lower price on an eligible air conditioner or other upgrade. See VEU air conditioning rebates.
VEEC or STC
| VEEC | STC | |
|---|---|---|
| Level | Victoria | Federal |
| Unit | One tonne of avoided emissions | One MWh of expected renewable generation |
| Typical price in 2026 | About $85 to $95 | About $38 to $40 |
| Administered by | Essential Services Commission | Clean Energy Regulator |
Some jobs can earn both, such as a solar installation combined with an efficient upgrade. See VEECs and STCs on the same job.
What this means for you
Installers can sell VEECs through a trader; see how our VEEC trading pillar works and the glossary. Homeowners should check eligibility on the official Victorian Energy Upgrades page.
For homeowners, the simplest way to think about it is this: your efficient upgrade avoids emissions, the program measures that avoided pollution in tonnes, and the certificates created are worth money to energy retailers. Some of that money reduces what you pay, which is why eligible upgrades can cost noticeably less in Victoria than the same product elsewhere.