'Stuck': enough energy projects planned, too few built

Despite ample renewable energy and battery projects planned to meet Australia's 2030 target, the nation could still fall short unless construction speeds up, a new report warns. The Institute for Energy Economics and Financial Analysis released the renewable energy report card, which revealed that the country could unlock an additional $44 billion in investment if approved projects transition from planning to construction.

This conclusion is drawn from data on the number, size, and status of large-scale renewable energy projects across all states and territories, except the Northern Territory, analyzed using Green Energy Markets' information.

While Australia boasts a record number of wind and solar power installations in the National Electricity Market, along with widespread adoption of rooftop solar and battery systems by households and businesses, the institute's findings highlight a significant gap between planned and built capacity. The report card discovered that Australia's renewable energy projects significantly exceed the number needed to meet the 82% renewable electricity production target by 2030. Moreover, there are enough projects with full approval, yet construction is lagging far behind.

Only a fraction of approved projects are currently under construction, with less than 10% of required new wind and solar capacity in several states being built. Even in the strongest states, less than one-third of new capacity is under construction. The main obstacle, according to the report, is a lack of power purchase agreements, which secure renewable energy sales for up to 15 years.

Green Energy Markets' chief executive, Tristan Edis, noted that while government schemes are aiding project progress, they are insufficient to drive construction.

If approved renewable energy projects proceed to construction, they could inject $44 billion into the economy, according to the report. One potential avenue for securing power purchase agreements might be data centers, as recommended by the Australian Energy Market Commission for developers to invest in renewable resources to meet their energy needs.

The institute's report card also identified New South Wales and Queensland as having the largest pipeline of proposed renewable energy and large-scale battery projects, along with South Australia. These states also led in rooftop solar installations, with Tasmania catching up in the second quarter of 2026.