When is the VEEC rebate paid?

The major point of difference when it comes to VEECs is that they are a “hybrid certificate” in that they are measured for a year (like LGCs or ACCUs) but are then forward paid or “deemed” for the next 9.91 years – much the same as a VEEC is for a domestic hot water heat pump.

In terms of offsetting a project outlay, having over 9 years of certificates paid at once is extremely attractive. Couple that with a higher certificate price when compared to ACCUs, VCUs or LGCs and you start to see why VEECs for commercial and industrial facilities are so appealing.

Typically, it is recommended to assume that a project will require 12 months of measurement, up to 3 months of post-project review and engineering, and 3 months of regulatory approval. This creates a payment period of 18 months post-energisation.

In many cases, these project reviews and regulatory approval timelines are conservative, and VEEC payments can be made within a shorter timeframe of 18 months.