Two new grant programs launched by Climate Change and Sustainability Minister Shane Rattenbury aim to shape the ACT as an export-oriented hub for renewable energy innovation and investment.

The new Direct Grants Stream will provide grants of more than $30,000 to businesses developing renewable technologies.

The Innovation Connect Renewables Stream will feed extra cash into the ACT government's existing Innovation Connect grants program, allocating $120,000 to the development of innovative products and services in the renewable sector in 2017.

Mr Rattenbury said the programs would be financed from the $12 million industry-funded Renewable Energy Innovation Fund.

He said the ACT was on track to be fully powered by renewables by 2020.

"The grants announced today are designed to grow the renewable energy industry, help organisations take the next step in commercialising their technology and reduce deployment costs of renewable energy and energy storage," he said.

Jobs growth in the ACT renewable energy sector in the past six years was 12 times faster than the national average, a report into the territory government's action on climate change revealed.

The Minister's Report into Climate Change and Greenhouse Gas Reduction also showed the rate of job growth in the ACT's renewables sector was six times higher than any other state and territory, as the government invested $12 million into a renewable energy industry development strategy.