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Abstract Nearly incompressible magnetohydrodynamic (NI MHD) theory for β ∼ 1 (or β ≪ 1) plasma has been developed and applied to the study of solar wind turbulence. The leading-order term in β ∼ 1 or β ≪ 1 plasma describes the majority of 2D turbulence, while the higher-order term describes the minority of slab turbulence. Here, we develop new NI MHD turbulence transport model equations in the high plasma beta regime. The leading-order term in a β ≫ 1 plasma is fully incompressible and admits both structures (flux ropes or magnetic islands) and slab (Alfvén waves) fluctuations. This paper couples the NI MHD turbulence transport equations with three fluid (proton, electron, and pickup ion) equations, and solves the 1D steady-state equations from 1–75 au. The model is tested against 27 yr of Voyager 2 data, and Ulysses and NH SWAP data. The results agree remarkably well, with some scatter, about the theoretical predictions.