Renewable investment hits highest level in history under Albanese Government

New Clean Energy Regulator data shows renewable energy investment is surging, with final investment decisions (FID) for large-scale renewable generation already reaching a new annual record in 2026, with three months of the year still to go. 2.1 GW of large-scale renewable capacity reached FID in the September quarter, the equal highest quarterly result and enough to power around 1.2 million homes.

That brings total renewable FID so far this year to 5 GW, already higher than the previous full-year record of 4.9 GW. The new data shows 1.1 GW of wind capacity reached FID in the September quarter, the highest quarter on record for wind. With Solar FID at 1 GW, we are already at 3.5 GW in 2026, a new annual record for the technology.

Minister for Climate Change and Energy Chris Bowen said the figures showed Australia’s energy transition is building momentum. “This is what progress looks like: more renewable energy reaching final investment decision, more rooftop solar on homes and businesses, more batteries helping Australians store cheap solar power, and more downward pressure on power prices,” Minister Bowen said.

“Renewable investment has already broken the annual record with three months still to go. And it isn’t just investment; last month renewable energy generated more electricity in the national grid than fossil fuels. “Investors, as well as Australian households and small businesses, are backing Australian renewable energy because they see a government with a clear policy that is working and we’ll continue to get on with the job.” The data also shows strong progress across households, with approved capacity under the Cheaper Home Batteries Program reaching 15.3 GWh by the end of September, up from less than 2GWh at the same time last year, with total home battery capacity in Australia more than 5 times greater than when the scheme began.

Rooftop solar added 90,000 installations and 894 MW of capacity in the September quarter, while year-to-date rooftop solar capacity is 45 per cent higher than at the same point in 2025. “Households are not waiting around. They are putting solar on their roofs, batteries in their homes, EVs in their driveways and taking more control over their power bills,” Minister Bowen said.

“Investment is up, capacity is up, household uptake is up, and Australians are getting on with the job because renewable energy is cheaper energy.” BY THE NUMBERS: Q3 2026 large-scale renewable FID hit 2.1 GW, the equal highest quarter on record. 2026 FID is already 5 GW year-to-date, higher than the previous full-year record of 4.9 GW, with three months still to go.

Wind FID hit 1.1 GW in Q3, the highest quarter on record for wind. Solar FID reached 1 GW in Q3, after 2 GW in Q2. Solar FID is already 3.5 GW in 2026, a new annual record and about 30% above the previous annual solar FID record.

Large-scale FID now totals almost 17 GW since Labor was elected in 2022. Cheaper Home Batteries approved capacity has more than tripled during 2026, growing from 5.0 GWh at the end of 2025 to 15.3 GWh at the end of Q3. With total home battery capacity, including that installed before the scheme, around 19 GWh, more than 5 times greater than when the scheme began.

Another 1.9 GWh of home battery capacity was added in Q3 alone. NSW has 5.6 GWh of approved home battery capacity, followed by Victoria and Queensland at about 3.2 GWh each. About half of approved battery installations are retrofits to existing solar, while about half are going in with new or upgraded rooftop solar.

Rooftop solar added 90,042 installations and 894 MW in Q3. Rooftop solar capacity in Q3 was 35% higher than Q3 2025. Rooftop solar installations in Q3 were 39% higher than Q3 2025.

Rooftop solar has added 2.8 GW in 2026 so far, almost matching the whole of 2025, with one quarter still to go. Rooftop solar capacity is 45% higher year-to-date than at the same point in 2025. Q2 2026 was the biggest rooftop solar capacity quarter on record at 1.0 GW.

Over 13GW of small-scale solar has been installed since Labor was elected in 2022. We acknowledge the Traditional Owners of country throughout Australia and recognise their continuing connection to land, waters and culture. We pay our respects to their Elders past, present and emerging.