Clean Energy Council data to be released on Wednesday shows battery storage projects leading the way for financial commitments, but the overall investment pipeline points to the risk of failure on longer-term renewable targets.

Investment levels so far this year are “a long way off the pace” needed for 82 per cent renewable energy by 2030, the report found.

Six battery storage projects totalling 3802 megawatt hours were added across Australia, which broke the billion-dollar barrier for the first time in a quarter.

Four generation projects commenced construction during the quarter, bringing an additional 1172MW of capacity, while five projects totalling 551MW reached the commissioning stage.

But new financial commitments in generation projects also had the slowest first half of a year since the industry council began recording data in 2017.

A total of four generation projects reached financial commitment during the quarter including the Ardandra Storage and Solar Project that will be built beside the existing Dulacca Wind Farm in Queensland.

Federal Labor has allocated an additional $19 billion to the Clean Energy Finance Corporation for the Rewiring the Nation (RTN) program.

Data from the federal green bank on Monday confirmed $1.9 billion in new investment commitments in the 2022-23 year, including a record $1.2 billion in renewable energy and grid-related investment despite challenging market conditions.

The Clean Energy Finance Corporation expects to begin investing in RTN-related projects from the 2023/24 financial year.

“We’ll be investing RTN capital Australia wide,” the CEFC told AAP.

“We expect to prioritise investment in high voltage transmission, long duration grid storage and electricity distribution network infrastructure.”

CEFC said the HumeLink in regional NSW, VNI West between Victoria and NSW, Tasmania’s Marinus Link and renewable energy zone transactions are a “priority focus”, along with projects in WA and the Northern Territory.

The green bank said it was also investing in large scale solar, wind and battery storage projects to achieve renewable generation targets.

But Clean Energy Council CEO Kane Thornton said Australian governments must remove the challenges that make final investment decisions for large scale renewable energy projects more difficult.

He said these include under-investment in transmission, grid connection challenges and inconsistent planning policies.

There are also constraints in supply chains and labour shortages because Australia is competing with other larger economies and regions that are all accelerating renewable energy.

“Investors are swamped with global opportunity at a time where these barriers make Australian projects less attractive,” Mr Thornton said.

“The critical development needed to achieve 82 per cent renewable generation by 2030 is not guaranteed unless we target the obstacles currently creating investment uncertainty for new energy generation.”