Investment commitments for new Australian wind and solar projects have reached a record level in 2026, with 5 gigawatts of large-scale renewable generation reaching final investment decision before the end of September.
The total has already surpassed the previous full-year record of 4.9 GW with another quarter still remaining.
Around 2.1 GW reached final investment decision during the September quarter alone, equalling the strongest quarterly result on record.
Wind accounted for 1.1 GW of that capacity, the highest quarterly figure ever recorded, while solar contributed another 1 GW.
Solar investment accelerates
Solar projects reaching final investment decision have totalled around 3.5 GW so far this year, establishing a new annual record and running roughly 30% above the previous peak.
Household solar installation has also remained strong.
Around 90,000 rooftop systems representing 894 megawatts were installed during the September quarter, while year-to-date rooftop capacity additions are running substantially ahead of 2025.
Final investment decision does not mean all of the projects are already operating.
Developments still need to progress through construction, connection and commissioning before they begin supplying electricity to the grid.
However, the increase provides an important signal about the pipeline of new generation expected to enter the Australian electricity market over coming years.
The acceleration comes as coal-fired generators progressively retire and electricity demand increases from electrification, electric vehicles and data centres.
The key challenge now shifts from attracting capital towards building transmission lines, securing equipment and workers and connecting projects quickly enough for the new capacity to arrive when it is needed.
