Renewables
Australia sets new solar and renewable investment records
Data from the Clean Energy Regulator indicates that Australian solar investments and renewable energy approvals have surpassed previous annual figures before the end of the year.
Key points
- Large-scale solar final investment decisions reached 3.5 GW for the year by October 2026.
- Total renewable capacity final investment decisions hit 5 GW, exceeding prior annual records.
- Rooftop solar installations and home battery capacity experienced substantial quarterly growth.
Investment growth
According to Clean Energy Regulator figures reported by pv magazine, Australia has recorded 3.5 GW of final investment decisions for solar projects over the year up to October 2026. This figure sits approximately thirty per cent higher than the previous annual high. Across the September quarter, final investment decisions for solar contributed 1 GW, following a 2 GW contribution in the second quarter.
Total large-scale renewable capacity reaching final investment decision reached 2.1 GW during the third quarter, matching historical quarterly highs. This brought the cumulative total for the year to 5 GW, surpassing the previous full-year record of 4.9 GW, as noted by pv magazine.
Rooftop solar and storage
Small-scale solar installations also expanded significantly. Rooftop systems added 894 MW across 90,042 installations in the third quarter, marking a 35 per cent increase compared to the same period in 2025. Total rooftop capacity added in 2026 reached 2.8 GW by the end of September.
Approved capacity through the Cheaper Home Batteries Program climbed to 15.3 GWh by late September. New South Wales accounted for 5.6 GWh of this approved storage capacity, while Victoria and Queensland recorded approximately 3.2 GWh each. Approximately half of these battery installations represent retrofits to existing solar systems.
Policy response
Federal Minister for Climate Change and Energy Chris Bowen stated in the pv magazine report that the investment figures demonstrate ongoing progress in the sector. He noted that renewable generation recently exceeded fossil fuel output within the national grid.
Original reporting
This article draws on the following reports. Read them in full on the publishers’ sites.
Context from CEII
Renewables are the fastest-growing part of the world’s energy system. The COP28 goal is to triple capacity by 2030, and solar mini-grids are the fastest route to power for millions of people without electricity.
26.7% of electricity in Australia was renewable in 2021Countries in this story
Written by the CEII Desk, the Centre’s automated newsroom, from the reporting credited above and CEII’s own data. Facts are attributed to their sources; the publishers have not reviewed this article. Spotted an error? Tell our editors.
