The Victorian Government (VIC) has updated its Victorian Energy Upgrades (VEU) program targets as part of the $1.6 billion the Andrews Government’s is investing in clean energy through its Victorian Budget 2020/21. The new 2022-2025 targets are designed to improve the energy efficiency of households and businesses, with the aim of reducing Energy consumption by 7% in 2025.
For those participating in the VEU program, the Andrews Government projects average annual savings of at least $120 for households and $510 for businesses. VIC is pushing the VEU program because energy efficiency upgrades are some of the easiest and cheapest measures available to reach significant emissions reductions.
As the previous targets gradually increased, so too for the new targets, with a goal of 6.7 million tonnes of emissions abatement in 2022, rising 6.9 million in 2023, 7.1 million in 2024 and 7.3 million tonnes in 2025.
Today I announced new energy reduction targets for 2022-2025. These ambitious targets will step up each year, and will ultimately drive down Victorian energy consumption by seven per cent in 2025, saving households hundreds of dollars on their bills. pic.twitter.com/vbu0KkQ7rd
— Lily D'Ambrosio MP (@LilyDAmbrosioMP) December 8, 2020
Perhaps key to the increased targets is the program’s expansion in eligible energy efficient technologies, including a broader range of appliances and energy-saving products across lighting, water efficiency, hot water, space heating and cooling, weather proofing, etc,.
VIC Minister for Energy, Environment and Climate Change, Lily D’Ambrosio, said the new targets positioned Victoria as an Australian leader in the use of energy in homes, businesses and industry. “By investing in the Victorian Energy Upgrades program, “we’re empowering households and businesses to save on bills and reduce their greenhouse gas emissions, while also creating more jobs – it’s a win for all.”
For Roy Solterbeck in Melbourne’s Brunswick West, a rival suburb to this author’s former stomping grounds in Brunswick East, the program is not just a win for all but a win-win. The program helped Roy to save thousands on the installation of energy efficient LED lighting throughout the house, among other forms of consumption reduction technology on energy which Roy says also helps the environment and allows him to pass that on to his kids. “It’s not only about saving dollars,” says Roy, “it’s about everyone doing their little bit to help the environment.”
Minister D’Ambrosio also announced today that Victoria had met its 2020 Renewable energy target of 25% of energy consumed in Victoria coming from renewable sources.
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