NEE · Earnings call · 2026Q3T · Full report

Renewables and Storage Backlog

NEXTERA ENERGY INC · 2026-10-21 · Importance 44 · Surprise 24

Energy Resources added 3.7 gigawatts of renewables and storage projects to its backlog in the quarter, including 2.4 gigawatts of battery storage origination. The backlog reached nearly 36.7 gigawatts after more than 1.8 gigawatts of projects entered service, and management said this was the fourth consecutive quarter with more than 3.5 gigawatts of additions. The company added approximately 15 gigawatts to backlog over the last 12 months and said it had achieved more than two-thirds of the midpoint of its 2026–2029 development expectations. Management described storage demand as particularly strong amid the need for quick capacity solutions, with customer focus potentially shifting back toward energy products in coming quarters.

Key facts

• NextEra Energy had achieved greater than two-thirds of the midpoint of its 2026–2029 development expectations and added approximately 15 gigawatts to backlog in the preceding 12 months.
• Energy Resources added more than 3.5 gigawatts to its backlog for the fourth consecutive quarter and had 17.6 gigawatts left to add to reach the midpoint of its 2026–2029 development expectations.
• Energy Resources added 3.7 gigawatts of renewables and storage projects to its backlog in Q3 2026, including 2.4 gigawatts of battery storage origination.
• Energy Resources' renewables and storage backlog totaled nearly 36.7 gigawatts after 3.7 gigawatts of additions and more than 1.8 gigawatts of projects entering service since the prior earnings call.
• NextEra says tax credits, particularly for wind and solar, help reduce the cost of wind and solar relative to other choices.