In short: a Victorian commercial solar system earns VEECs worth roughly $2,800 on a 30 kW array up to $35,000 on a 200 kW array, knocked straight off the install cost. A common 50 kW system earns about 65 VEECs, around $4,692 at recent prices. The exact number depends on your system size, metro-vs-regional location, and the live certificate price — check yours in the VEEC calculator.
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If your business is putting solar on a Victorian roof, VEECs are real money on the table. A Victorian Energy Efficiency Certificate is a tradeable certificate created under the Victorian Energy Upgrades program, and a mid-sized commercial array can generate dozens of them. For a 50 kW system that works out to roughly $4,000–$5,000 knocked off the install cost, depending on the certificate price on the day you transact.
This guide is about the number that matters to a business owner: how much you actually earn. We will cover the VEEC formula, the two activity bands, the metro-versus-regional split, and worked dollar figures across common system sizes. If you want the broader comparison between STCs, VEECs, and LGCs, that is covered separately. Here the focus is Victorian commercial solar and what lands back in your pocket.
How a VEEC turns into dollars
VEECs apply to commercial solar systems between 30 and 200 kWp in Victoria. Below 30 kWp the system is too small to qualify; above 200 kWp it falls outside the activity. Within that band, the number of certificates comes from a fixed formula:
VEECs = system kW × input factor × 10 × regional factor
The 10 is the deemed lifetime in years. Unlike STCs, which shrink each year as the 2030 deeming window closes, the VEEC lifetime is fixed at ten years no matter when you install. The input factor depends on system size (more on the two bands below). The regional factor is 1.0 for metropolitan Melbourne and 1.04 for regional Victoria. Multiply the certificate count by the market VEEC price and you have your rebate.
That last input is the variable one. VEEC prices float on a traded market and move with supply and demand, so any figure here is an example rather than a quote. The worked examples below use roughly $72 per certificate to keep things concrete, but you should run your own size and postcode through the VEEC calculator for a current estimate.
Activity 47A vs 47B: which band you fall in
The Victorian Energy Upgrades program splits commercial solar into two activities based on system size, and the band you land in changes your input factor.
| Activity | System size | Input factor | What it means |
|---|---|---|---|
| 47A | 30–100 kWp | 0.133 | Smaller commercial arrays |
| 47B | 100–200 kWp | 0.25 | Larger commercial arrays |
The 47B factor is nearly double the 47A factor, which reflects the larger energy displacement of bigger systems. There is a practical consequence near the 100 kWp line: a system just over 100 kWp earns certificates on its full capacity at the higher 0.25 factor, so the per-kW VEEC value jumps once you cross into 47B territory. If your roof and consumption can justify it, sizing above 100 kWp meaningfully changes the VEEC maths.
Metro vs regional: the 1.04 bump
Where you install matters too. Metropolitan Melbourne sites use a regional factor of 0.98. Sites outside metro Melbourne (think Geelong, Ballarat, Bendigo, the Latrobe Valley) sit at 1.04, about 6% more certificates for the same array. It is a modest bonus, but on a larger system it is worth a few hundred dollars, and it costs nothing to claim if your site already qualifies.
A 100 kWp system shows the effect clearly. In metro Melbourne under 47A it earns 100 × 0.133 × 10 × 0.98 = 130.3 VEECs. The same system in regional Victoria earns 100 × 0.133 × 10 × 1.04 = 138.3 VEECs. At roughly $72 each that is about $9,384 metro versus $9,959 regional, an extra $575 for the same hardware.
Worked earnings by system size
Here is the part business owners care about. The table below runs the formula across common commercial sizes, using the metro factor of 0.98 and an example price of $72 per VEEC. Each size sits in its activity band, so the input factor switches at 100 kWp.
| System size | Activity | VEECs (metro) | Approx value @ $72 |
|---|---|---|---|
| 30 kWp | 47A | 39.1 | $2,815 |
| 50 kWp | 47A | 65.2 | $4,692 |
| 75 kWp | 47A | 97.8 | $7,038 |
| 100 kWp | 47A | 130.3 | $9,384 |
| 150 kWp | 47B | 367.5 | $26,460 |
| 200 kWp | 47B | 490 | $35,280 |
Worked example, 50 kW metro: 50 × 0.133 × 10 × 0.98 = 65.2 VEECs. At $72 each that is about $4,692 off the install. Move the same array to Ballarat and the regional factor lifts it to 69.2 VEECs, or roughly $4,980. Notice the jump from 100 kWp to 150 kWp in the table: certificate count nearly triples, because the system both grows in size and switches to the higher 47B input factor.
VEECs Stack on Top of STCs
A common misconception is that Victorian businesses must pick one scheme per system. They do not. The ESC's C&I solar activity guide is explicit that VEECs can be created for an Activity 47 installation as well as federal STCs or LGCs on the same system. A 50 kW install claims the upfront STC discount and the VEEC discount together; a 150 kW install pairs Activity 47B VEECs with annual LGC revenue. The one genuine restriction sits inside the VEU program itself: a system cannot create VEECs under both the deemed C&I solar activity and the measurement-and-verification pathway at once.
Run both calculations for your exact size and postcode before signing anything, and check the quote itemises each incentive separately — the ESC requires the VEEC amount and other incentive amounts such as STCs to be broken out. The VEEC calculator gives you the VEEC side of that total at current prices.
How to actually claim the rebate
You do not create VEECs yourself. The certificates are generated and traded by an Accredited Person registered under the Victorian Energy Upgrades program, almost always the installer or a certificate aggregator they work with. In practice the process looks like this:
- Your installer confirms the system is eligible (30–200 kWp, Victorian site, approved product) and which activity band applies.
- The VEEC value is calculated from your system size, location, and the certificate price, then applied as a discount on your quote or invoice.
- The Accredited Person registers the upgrade and sells the certificates into the market. Because prices float, the discount you are quoted is an estimate that can shift slightly before the deal settles.
- You keep records of the install and product. Compliance audits do happen, so a paper trail protects you and the installer.
One thing worth being clear on: VEECs are a discount on the upfront cost, not a cheque that turns up later. They lower what you pay on day one, which shortens payback and improves the return on the whole project.
Run your own numbers
VEECs are one of the better reasons to put commercial solar on a Victorian roof, but the value swings with system size, location, and the live certificate price. Plug your details into the VEEC calculator to see your eligible certificate count and an estimated dollar value at current market rates, then add the STC figure on top for the full upfront discount your business can claim.
Run a solar company? Amperage calculates VEECs, STCs, and the rest of the incentive stack automatically inside every quote, then exports a branded proposal. Book a demo to see it on a real Victorian job.