The capital is committed. The velocity is building. Australia has committed $90B in public capital to clean energy since 2023 — but only ~22% is deployed. 2026 is tracking at a record pace: $7.6B deployed Jan–Jun. The central challenge remains converting allocated capital into on-the-ground investment faster. That's what the Deployment Epic exists to accelerate.
Committed vs deployed — all programs
$90B committed (all programs) · $7.6B deployed 2026 YTD · $72.3B not yet deployed
2026 YTD Deployed $7.6B
Remaining envelope ~$82B
8%
2026 YTD
Deployed by funder — 2026 YTD (Jan–Jun)
Tracked project deployments · $7.6B total · 75 projects · verified June 2026
Annual deployment — all tracked programs ($B)
2025 = full year · 2026 = Jan–Jun actual · bar shows annualised run rate
2026 committed capital by state / territory
Distribution of announced 2026 investments · all programs
Where is the capital going? — 2026 announced funding by sector
Each project categorised by primary sector · committed capital ($M) · solid base = deployed fraction
Residential vs industrial & manufacturing — 2026
Split of 2026 announced capital between household-facing and large-scale commercial / industrial investments
Industrial & infrastructure
97%
$17.8B · large-scale generation, grid, manufacturing, critical minerals, clean transport
Residential & community
3%
$520M · home batteries, housing upgrades, community microgrids, EV charging access
Home Battery Scheme Tranche 2 ($4.9B committed, $1B deployed) is tracked separately — if fully deployed it would shift this balance significantly toward residential.
Funding vehicles
Australia's specialist investment vehicles
Five key public entities deploy clean energy capital with distinct mandates — but overlapping scope, variable deployment rates, and a combined undeployed balance of $70B+.
The deployment gap is not uniform — and the clock is ticking. CEFC leads at 47% deployed with a proven 4:1 leverage ratio. NRF has deployed just 3.7% of its $15B allocation — and is mandated to deploy all of it by 2030. That's ~$14.4B in under 4 years, roughly $3.6B per year from a standing start. FMIA programs are at near-zero. The undeployed capital is concentrated in the newest, highest-potential vehicles — where mandate reform and pipeline-building are urgent.
Deployment epic baseline
Progress vs 2028 goals
Live tracker · 2026
Announced investments — Jan to Jun 2026
All tracked government and agency announcements from 1 Jan–June 2026. Data sourced from the CEF/Greenhouse Capital Tracker.
| Project | Funder | Committed | Deployed | Date | State |
|---|
Capital flow analysis
Where is the $90B going — and where is the gap?
This flow map traces public capital from Budget Source → Funding Vehicle → Sector Destination. The faint wash = committed. The solid band = deployed. The gap between them is the deployment challenge the Deployment Epic exists to close.
All figures $AUB · Sources: CEFC AR 2025; ARENA; NRF; NAIF; Mandala/IGCC SIV Report 2025; CEF tracker June 2026
The undeployed $70B is not evenly distributed. It's concentrated in NRF ($14.4B gap), FMIA programs ($21.9B gap), and Rewiring the Nation ($16.2B undeployed). These are the highest-leverage intervention points for the Deployment Epic's advocacy. CEFC leads with 47% deployed and a proven 4:1 private leverage ratio — the model to scale.
The First Nations Funding Mismatch
First Nations peoples hold recognised interests over 26% of Australia's landmass. 43% of all net zero infrastructure must be sited on their Country — requiring $20.9B of capital investment and generating an estimated 700,000 direct jobs by 2060. Yet First Nations communities receive less than 1% of the public capital currently driving this transition.
26%
of Australia's landmass under First Nations recognised interest
43%
of net zero infrastructure must be on First Nations Country
$20.9B
capital needed on Country by 2060 · 700,000 direct jobs
<1%
of 2026 public capital explicitly directed to First Nations
Land stewardship vs capital received — the mismatch
What First Nations peoples manage vs what they receive from the public clean energy capital program
Sources: UNSW 2024 · The Conversation July 2025 · CEFC / Clean Energy Council / KPMG 2024 · EY Net Zero Centre Oct 2025
First Nations share of 2026 public capital
~$90M explicitly designated for First Nations out of $7.6B deployed Jan–Jun 2026
<1%
FN share
$90M First Nations-designated · $7,551M all other 2026 capital
CEFC: $24.2B committed since 2012 · 0% with First Nations equity
📍 Case study: NSW Powershift
UNSW / UTS Powershift Report July 2025 · The opportunity, the blocker, and what changes when First Nations become shareholders
1 · The opportunity sitting on Country
121
Aboriginal Land Councils in NSW
11GW+
solar potential on land council holdings alone
1.6GW
wind energy potential identified
2 · What blocks it — when First Nations are treated as stakeholders, not shareholders
38,200
land claims undetermined in NSW — 1.12M hectares of viable renewable land locked
Late engagement means approvals delays of 2–4 years on contested Country.
Renegotiated benefit-sharing at financial close adds 5–15% to project cost.
70% of these claims were lodged over 40 years ago and remain unresolved. This is not a lack of resource — it is the consequence of treating First Nations as the last conversation, not the first.
Renegotiated benefit-sharing at financial close adds 5–15% to project cost.
70% of these claims were lodged over 40 years ago and remain unresolved. This is not a lack of resource — it is the consequence of treating First Nations as the last conversation, not the first.
3 · What changes when First Nations become shareholders
When First Nations communities are equity holders from day one — not just consulted and compensated — projects move faster, face less opposition, and carry lower execution risk. The mechanism is simple: a shareholder has an interest in a project succeeding. A stakeholder has an interest in being heard. The data from completed projects in Australia and comparable structures in Canada shows the difference is measurable in both time and return.
Equity-in from day one · what it delivers
🟢 Ngarluma 50MW Solar — 100% FN-owned, concept to FID in 18 months
🟢 Tiwi reforestation $40M — CEFC closed in under 12 months
🟢 Borroloola microgrid — community-led, zero approvals friction
🟢 Yindjibarndi REP 400MW — 25% equity built in, no social licence risk at any stage
The international comparator
Canada's BC First Nations Power Authority — a CA$3B fund financing 50+ projects — shows average project timelines 30% faster than non-Indigenous equivalents when equity is structured in from the outset.
The equivalent in Australia — 5% of the $90B envelope — would unlock ~$4.5B in First Nations-led clean energy. The pipeline is ready. The capital structure is the variable.
Tracked First Nations projects — 2025–26
Projects with explicit First Nations designation from the CEF/Greenhouse Capital Tracker · $121M deployed to date
★ = First Nations-led or owned · Data: CEF/Greenhouse Tracker · CEFC · ARENA · June 2026
The pipeline waiting to be unlocked
Projects in development with First Nations equity — demonstrating the model at scale
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Built for the Climate Capital Forum delegation
This dashboard is a live advocacy tool for the June 2026 delegation. Share it with ministers, investors and media to demonstrate the deployment gap and the First Nations mismatch in one place.
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Data sources
All data is sourced from publicly available government and agency disclosures
Live tracker
CEF / Greenhouse Capital Tracker →
Agencies
CEFC Annual Reports 2025
ARENA Annual Reports FY22–FY25
NRF / NAIF / EFA disclosures
Mandala / IGCC SIV Report Dec 2025
ARENA Annual Reports FY22–FY25
NRF / NAIF / EFA disclosures
Mandala / IGCC SIV Report Dec 2025
First Nations
UNSW / UTS Powershift Report July 2025
EY Net Zero Centre Oct 2025
CEFC / Clean Energy Council KPMG 2024
First Nations Clean Energy Network 2025–26
EY Net Zero Centre Oct 2025
CEFC / Clean Energy Council KPMG 2024
First Nations Clean Energy Network 2025–26