How do VEECs work from upgrade to payment?

Written and checked by the Energy Merchants desk · Reviewed 2 October 2026 · For installers and homeowners

The mechanism is a chain: an upgrade is installed, certificates are created, retailers buy them, and the money flows back to the people who did the work. Understanding each link helps installers claim correctly and homeowners understand their discount.

The chain, step by step

1. An approved activity. The Victorian Energy Upgrades program lists activities, such as efficient heating and cooling, with product and installer rules.
2. Installation. Done by a qualified installer, with the right product and records.
3. Assignment. The customer assigns their rights to the certificates to an accredited provider, usually in return for a discount.
4. Creation. The provider registers the activity and creates VEECs, each equal to a tonne of avoided emissions.
5. Sale. Certificates are sold to a trader or directly to a retailer.
6. Payment. The seller receives the rate agreed with the buyer.

What sits behind the rules

The Essential Services Commission administers the program, sets activity requirements and audits the claims. If the evidence is wrong, certificates can be rejected or later challenged, just as with STCs.

The money

VEECs have traded at roughly $85 to $95 in 2026 at the time of writing, with a record near $110. For an installer, that is a significant extra income line on eligible jobs. For a customer, it can show as a lower price at the counter. The number of certificates depends on the activity and the product.

What this means for installers

If you install eligible upgrades in Victoria, a trader can take on the registry and the sale. See the VEEC trading pillar, the how it works page and our guide on VEECs and STCs on the same job. The VEEC price page shows what the certificates are worth.

One point installers sometimes overlook is timing. Certificates are created after the installation is recorded, so lodging promptly makes a real difference to when you are paid. Build the VEEC evidence into the same end of job routine as your photos and compliance paperwork, and keep a copy of everything in case the regulator queries a claim later.