Australia is enjoying an unprecedented surge in wind, solar and battery project commitments, with some $32.5 billion either financed or under construction, according to the latest survey from the Clean Energy Council.
The CEC’s database shows a total of 12 large-scale renewable energy projects totalling 2.6-gigawatts (GW) reached a final investment decision (FID) through the first half of 2026, exceeding the 2.3 GW that was recorded across the entirety of 2025.
But the momentum has continued since then, with five CIS-backed wind farms representing 1,533 MW reaching FID and/or commenced construction since the end of June, and more expected before the end of the calendar year.
“Across Australia, $32.5 billion of generation and storage is now under construction or at financial close,” the CEC notes in comments accompanying its Bi-annual investment report that was released on Monday.
A total of 1.4 GW of new generation capacity was commissioned, including Stage 1 of Victoria’s 756 MW Golden Plains wind farm. This level of new capacity helped push the rolling average for commissioned capacity to 912 MW, its highest level since early 2022, and up 56 per cent on a year earlier.
A further eight projects totalling 1.9 GW also began construction during the first six months of the year.
Similarly, 9 storage projects totalling 2.3 GW/7.1-gigawatt-hours (GWh) were commissioned in the first half of the year, again already exceeding the full-year record for energy storage capacity of 5.1 GWh that was installed in 2025.
This continues an impressive level of commitment for energy storage across Australia, with over three-quarters of all utility-scale storage energy capacity commissioned since 2017 coming online in the past 18 months.
Another 13 storage projects totalling 1.6 GW/6.5 GWh reached financial close in the first half of the year, marginally below the 6.6 GWh that was recorded in the first half of 2025.
Looking forward, the CEC recorded a total of 141 projects that have either reached financial close or begun construction, with a 12.6 GW pipeline for energy storage exceeding the 11.7 GW pipeline for renewable generation.
Interestingly, despite the efforts of the LNP state government to pivot back to fossil fuels, Queensland currently holds the largest share of pipeline investment at $9.6 billion, generation capacity at 4.5 GW, and half of the onshore wind pipeline bey generation capacity at 2.5 GW.
New South Wales is home to the largest storage pipeline, consisting of 4.3 GW/11.2 GWh, as well as the 414 MW Uungula wind farm, the only onshore wind farm currently under construction in the state.
CEC CEO Jackie Trad says the increase in renewable generation and storage is already putting downward pressure on power prices, with wholesale electricity prices averaging $74 per megawatt-hour in the June quarter, down nearly 50 per cent on the same period in 2025.
“Each new solar, wind and battery investment helps make Australia more energy independent and economically resilient, shielding Australians from global fossil fuel price shocks and supply disruptions,” she said in a statement.
The CEC says the regulated reference price for household electricity has also fallen – down 3.4 per cent for households in NSW and south-east Queensland, and around 5 per cent in Victoria.
These declines have been specifically credited by the Australian Energy Regulator (AER) to more wind and battery generation and less reliance on gas and hydro in the evening peak.
“Though wholesale costs are only one part of a bill – and network costs are still rising in some regions – the data clearly indicates that more renewables and storage are putting downward pressure on what Australian households pay,” the CEC concluded.
“With $32.5 billion worth of generation and storage projects now under construction or at financial close, maintaining this momentum will require predictable approvals, timely transmission and long-term revenue certainty to help more projects, including onshore wind, progress into operation,” said Trad.
“Australian-made clean energy will not only deliver more affordable, reliable electricity for households and businesses, but also tens of thousands of jobs and billions of dollars in investment and economic activity, particularly in regional Australia.”
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Joshua S Hill
Joshua S. Hill is a Melbourne-based journalist who has been writing about climate change, clean technology, and electric vehicles for over 15 years. He has been reporting on electric vehicles and clean technologies for Renew Economy and The Driven since 2012. His preferred mode of transport is his feet.
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