Free tool

VEU rebate estimator.

The Victorian Energy Upgrades (VEU) scheme knocks up to $2,700 off a heat pump install and up to $4,200 off a gas-to-reverse-cycle switch. Enter your postcode, current system and planned upgrade to see the estimated rebate range and your out-of-pocket install cost.

Your upgrade

Victorian postcodeValid VIC postcode — rebate applies.

Current → planned upgrade

Household sizeLarger households = bigger tank = slightly higher rebate.

Rooftop solar PV

Solar households often schedule the heat pump midday to run off surplus PV.

Gas storage → Heat pump hot water
Biggest hot-water rebate. Typical mid-range install $4,800 pre-rebate → ~$2,200 net. Reclaim CO₂ top-tier goes up to $9,700 pre-rebate ($7,000 net).

Estimated VEU rebate

Rebate range

$2,760–$3,105

At the current VEEC price of $60-$75 / VEEC (2026 market), this upgrade typically generates a rebate around $2,933.

Typical install cost$4,800

Rebate (min)– $2,760

Rebate (max)– $3,105

Net install (mid)$1,867

Net install range$1,695 – $2,040

Heat pump net install range: $2,000 (entry iStore / Thermann R290) → $7,000 (Reclaim CO₂ top-of-line with Wi-Fi and stainless 316 tank). The number above is the mid-point of your upgrade path.

Lock in a rebate-inclusive quote →See annual saving after install →

Estimates only. The exact rebate depends on the certified deemed abatement of the specific product being installed, the current VEEC market price, and site-specific factors. We confirm the firm number at quote time and apply it to your bill up-front — you never pay the rebate and then chase it back.

How the VEU rebate works

The Victorian Energy Upgrades scheme generates Victorian Energy Efficiency Certificates (VEECs) — one for every tonne of greenhouse gas your upgrade will avoid over its assumed 10-year life. Each VEEC has a traded market price (currently $60-$75 in 2026, having settled down from the inflated 2024 highs).

The number of certificates depends on the Product Class(heat pump hot water, ducted aircon, reverse-cycle upgrade, etc.), your installation region (Melbourne / VIC-wide split), and the displaced fuel — going from gas to electric earns more than electric to electric because the greenhouse saving is larger.

We’re a VEU-accredited provider — we handle the paperwork end-to-end and apply the rebate to your quote up front so you never pay it and then chase it. See how the rebate is applied.

Numbers here are estimates based on 2026 VEEC market prices ($60-$75). The exact rebate is confirmed at quote time after a 20-minute site check — every home is slightly different.

Ready for the exact number?

We’ll confirm the rebate on your quote inside 2 business hours.

Get a rebate-inclusive quote →or call (03) 5947 8000