Australia’s solar financial investment decisions (FIDs) have hit a record 3.5GW in 2026, with energy minister Chris Bowen saying renewable energy investment “has already broken the annual record”.
Government figures, based on Clean Energy Regulator data, show solar FIDs of 2GW in the second quarter and 1GW in the third. The year-to-date total is the highest recorded for a calendar year, with one quarter still to run.
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Solar made up 3.5GW of the 5GW of large-scale renewables FIDs recorded this year, and the second quarter alone accounted for more than half of the solar total. The Clean Energy Regulator described that quarter as its strongest for solar FIDs since it began tracking investment activity.
Across all large-scale renewables, FIDs reached 5GW this year, above the previous full-year record of 4.9GW.
“This is what progress looks like: more renewable energy reaching final investment decision,” said Chris Bowen, Australia’s minister for climate change and energy.
Wind contributed 1.1GW in the third quarter, a quarterly record for the technology. The quarter’s 2.1GW total equalled the highest on record.
The data covers large-scale projects, which are tracked separately from rooftop solar, where the Clean Energy Council reported a record 1,894MW of capacity added in the first half of 2026.
According to the government, large-scale FIDs have totalled almost 17GW since the Labor government was elected in 2022.
The decisions also feed a growing grid pipeline. The Australian Energy Market Operator (AEMO), which runs the National Electricity Market (NEM), connected a record 9.1GW of renewables and storage in FY26, while the NEM connections pipeline grew from 53GW to 75.4GW.
The small-scale market is also growing. The government reported 894MW of rooftop solar installed in the third quarter and 2.8GW so far this year, 45% above the same point in 2025.
Government support schemes are also drawing projects. Under the federal Capacity Investment Scheme, Tender 8 awarded 4.2GW/16.1GWh of battery storage in June.
Tender 9, a generation round, seeks 5GW of renewable energy capacity, with outcomes expected in November.
On 15 October, the Australian Renewable Energy Agency (ARENA) opened an AU$250 million (US$175 million) third round of its Solar Sunshot programme.
The round targets Australian manufacturing of equipment for large-scale solar plants, including racking, tracking and robotics, with expressions of interest opening on 2 November.
The government also said approved home battery capacity under the Cheaper Home Batteries Program reached 15.3GWh at the end of the third quarter, up from 5GWh at the end of 2025.
