Efforts to save the Victorian Energy Efficiency Target (VEET) by the state’s opposition were welcomed by the clean energy industry, although legislation to close the scheme was ultimately passed by the Victorian Government this month.

Clean Energy Council Policy Director Russell Marsh said energy efficiency was one of the most cost-effective ways to save on power bills, and the VEET scheme had performed admirably in helping to make energy efficient technology more affordable for homes and businesses.

"The VEET program both created employment for thousands of people while helping over one million Victorian households and businesses to save money. Many of these were doing it tough with the rising cost of power," Mr Marsh said. 

"Ultimately the decision to remove the VEET scheme is a blow to those employed as a result of the program. As well as equipment suppliers and energy auditors, this includes Victorian solar hot water and insulation manufacturers."

The VEET scheme assisted Victorians by helping them to install more energy efficient lighting, heating, appliances and insulation.

Mr Marsh said that the average household saved more than $100 a year on average by using the program.

"A higher proportion of households in lower-income areas took advantage of the scheme than those in more affluent areas. The cost to run this scheme was low, and it is disappointing that the program has been cut just when it was starting to hit its stride," he said.

"Analysis also showed that all energy users benefited from lower wholesale power prices as a result of the VEET scheme.

"The industry would like to thank the Victorian opposition for supporting a worthwhile program."

Please contact Clean Energy Council Media Manager Mark Bretherton on 0413 556 981 for more information or to arrange an interview.