Australia's large-scale renewable energy industry has entered an investment freeze, with just one project securing finance in the past six months amid political uncertainty, according to Bloomberg New Energy Finance.

The lone venture in the first three months of 2015 was worth just $6.6 million and following a complete drought during the December quarter, BNEF said. The project was a floating solar photovoltaic (PV) plant being developed in Jamestown, South Australia, by Infratech Industries.

The industry is battling political uncertainty, a consultant says. Credit:Peter Rae

For the year to March, investment totalled $206.9 million, which was 90 per cent lower than the previous 12 months, the consultancy said.

"Investment has been stifled by policy uncertainty for over 13 months since the Abbott government's [Renewable Energy Target] review was announced on 17 February 2014," BNEF said. "The Australian large-scale clean energy industry has become practically uninvestable due to ongoing uncertainty caused by the government's review."