• VUE Bulletin Released
• Australia’s Renewable Energy Sector Sees Record Investment in 2024

VEU Bulletin – February 2025: Key Updates

• Warranty Extension: New product warranty requirements for water & space heating/cooling (activities 1, 3, 6, & 44) now start 31 March 2025 (extended from 1 Feb) and have been expanded to include Warranty against defects for a period of a minimum of five years from the date of installation or purchase or supply. Existing registered products remain valid until 30 March.
• EMIS Consultation: Have your say on Energy Management Information Systems (EMIS) Consultation closes 17 February 2025.
• Co-payment Changes Effective: New co-payment rules for water & space heating/cooling (activities 1, 3, 6, 43 & 44) began 1 February 2025. Updated VEEC forms are required.
• VEEC Information Requests: The ESC is actively requesting information on VEEC creation. Compliance is mandatory, even if VEECs are withdrawn.
• Misleading Marketing: The ESC is cracking down on misleading websites and marketing related to the VEU program, including misuse of logos and false claims of accreditation.
• Deferred Payments & Co-payments: Deferred payment plans are allowed for co-payments, but must comply with consumer protection laws. Proof of co-payment is still required.

Australia’s Renewable Energy Sector Sees Record Investment in 2024

Australia’s large-scale renewable energy sector saw a major resurgence in 2024, marking the best year for investment since 2018. The Clean Energy Council (CEC) reports AU$9 billion (US$5.65 billion) in total capital committed, driven by strong growth in both generation capacity and energy storage.

Q4 2024 alone saw commitments to seven new renewable projects, adding 1,598MW of generation capacity and AU$2.4 billion in investment. This brings the 2024 total to 4,346MW of new renewable generation and significant growth in energy storage, with 4,029MW/11,348MWh of new projects committed.

Key projects driving this growth include Lightsource bp’s 450MW Goulburn River solar-plus-storage plant in New South Wales, the largest financially committed project in Q4, and large wind farms in Queensland. Solar PV projects dominated Q4 financial closes, spanning across NSW and Victoria. Nationally, 88 renewable generation projects are underway, totaling 13,187MW, alongside 52 energy storage projects.

Since 2017, a total of 223 energy generation and storage projects have been commissioned, installing 17,019MW of generation and 2,112MW/3,669MWh of storage capacity.

At Ecovantage, we consistently analyse market activity, policy changes, consultation releases, and creation rates in conjunction with wider landscape activity. This allows us to keep our clients at the forefront of all relevant changes, and to leverage the advantage that this presents. Thank you for your continued support, and please reach out if you have any general or project-specific questions.

Nancy Sanjoto | Account Manager, Energy & Carbon Services
Nancy specialises in HEER & IHEAB activities under the NSW ESS program, as well as LGCs under the federal Renewable Energy Target.