The Victorian Energy Upgrades (VEU) program provides incentives in the form of VEECs to Victorian residents and businesses to replace old and inefficient electric storage, gas storage, or gas instantaneous hot water systems and install solar water heaters and heat pumps.

The program not only reduces the financial burden of acquiring and installing these systems but also encourages the transition away from conventional electric or gas-powered hot water systems, thereby fostering a greener and more sustainable future.