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Victorian residents get help to save power

The victorian government has an initiative to reduce the state s carbon footprint and it may help you save money  16000646 800517737 0 0 14092225 300

The state of Victoria has its own energy saver incentive program, which provides households with discounts on a range of energy efficient goods and services.

Victorian residents may see lower electricity prices on their bills after taking advantage of the scheme, which aims to reduce the state's greenhouse gas output.

Energy suppliers must meet annual targets set out in the Victorian Energy Efficiency Target (VEET) regulations 2008.

The energy saving scheme is administered by an independent regulator - the Essential Services Commission.

VEET was the first scheme of its kind in Australia. It began in 2009 with the aim of saving 8.1 tonnes of greenhouse gases in the first three years.

Until 2014 the aim is to double this saving to 16.2 tonnes, the equivalent of making 1,350,000 houses carbon neutral over the course of a year.

For consumers, this means they have access to a range of goods and services that should help them save money on their power bills.

However, in order to be eligible for a discount, consumers must have goods installed by a professional from the participating business.

The purchase of some home appliances might entitle consumers to a discount at point of sale, but most of the time the discount comes from the replacement of an older appliance with a new one or upgrading to something more energy efficient.

Heating and cooling make up the highest proportion of the average household's power bill at 38 per cent so replacing older energy-intensive heaters could be a great way to reduce your electricity prices.

If you switch to a high-efficiency ducted heater, for example, you may be able to get a helping hand with an Energy Saver Incentive.

Anyone who is considering building in the next few years should keep this in mind as the incentive applies to people installing energy efficient gas heaters with 5 star ratings, meaning you might also see lower gas prices when you move in.

Water heating counts for around 25 per cent of energy bills, making it an important area to cut back in.

Switching to a more efficient system will help reduce your energy expenditure, saving you money on your bill. Since you may be eligible for an incentive to upgrade, now might be the perfect time to look at your options.

Posted by Matthew Cole.