Press release
Indonesia Solar Energy Market Valuation to Reach 1,690.7 GWh by 2033 - Industry Growing at a CAGR of 12.5%
How Big is the Indonesia Solar Energy Industry?
The Indonesia solar energy market size reached 532.4 GWh in 2024 and is expected to reach 1,690.7 GWh by 2033, exhibiting a growth rate (CAGR) of 12.5% during 2025-2033.
Indonesia Solar Energy Market Trends:
The market for solar energy in Indonesia is evolving, with the government's evolving commitment to renewable energy development and energy diversification. Indonesia has ample solar irradiation across the country, indicating strong potential for solar energy generation, especially in off-grid and remote areas. The government is also promoting sustainable energy in areas like rooftop solar programs and feed-in tariffs or subsidies, increasing residential, commercial, and industrial uptake of solar energy. Additionally, there is a decrease in the costs of photovoltaic (PV) panels, along with improvements in energy storage technologies that have made solar energy solutions commercially acceptable. There are ways in which public and private partnerships are contributing to the development of solar energy infrastructure through financial contributions, pilot projects, and other capacity-building activities.
Furthermore, due to sanctions and power generation limitations, the government is also seeking to lessen its reliance on fossil fuels and/or fossil fuel subsidies to reduce carbon emissions, thus increasing the competition alongside a wave of consumer demand for various clean energy options, such as solar energy. A growth imperative is also supporting consumer demand for decentralized and sustainable electricity supply and consumers appear to be heavily considering more reliable sources of power away from the national grid. The solar energy market is also enabled by advances in digital tools such as smart meters and remote monitoring capabilities that can help to improve efficiency and transparency across operations and performance. As demands for addressing climate change action and sustainable economic growth intensify, solar energy is emerging as a prominent priority and pillar of Indonesia's medium- to long-term strategy for moving to renewable energy sources and away from fossil fuels.
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Indonesia Solar Energy Market Scope and Growth Analysis:
The scope of the Indonesia solar energy market is continuing to expand, increasing speed toward low-carbon energy solutions. These developments, facilitated by policy reform and ambitious renewable energy targets, are plying the market with domestic and international investors looking to engage with solar projects of all scales, from utility-scale farms to local community systems. In addition, electrifying rural spaces is creating opportunities for solar mini-grids and hybrid systems. The adoption of smart grid technology has enhanced the size of solar installations, allowing for more coordinated energy management and grid resilience.
Advances in efficiency and battery storage are also edging out overheads and assuring returns by reducing limitations on project yield. Multilateral financing agencies and green finance initiatives are further empowering development financing for solar energy scale-up in Indonesia. To support human resource development, there are local educational campaigns and training programs that transit expertise into capable professionals with the needed skills to install and maintain solar energy systems. The outlook remains strong in the market because stakeholders are focused on scalability, innovation, and affordability. Market players expect the growth of solar energy across urban and rural landscapes to fuel the development of deployable solutions.
Indonesia Solar Energy Market Segmentation:
The market report offers a comprehensive analysis of the segments, highlighting those with the largest Indonesia solar energy market share. It includes forecasts for the period 2025-2033 and historical data from 2019-2024 for the following segments.
Breakup by Technology:
• Solar Photovoltaic (PV)
• Concentrated Solar Power (CSP)
Breakup by Application:
• On-grid
• Off-grid
Breakup by Region:
• Java
• Sumatra
• Kalimantan
• Sulawesi
• Others
Competitive Landscape:
The report offers an in-depth examination of the competitive landscape. It includes a thorough competitive analysis encompassing market structure, key player positioning, leading strategies for success, a competitive dashboard, and a company evaluation quadrant.
Other key areas covered in the report:
• COVID-19 Impact on the Market
• Porter's Five Forces Analysis
• Strategic Recommendations
• Market Dynamics
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
• Top Winning Strategies
• Recent Industry News
• Key Technological Trends & Development
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