Indonesia Solar Energy Market Size

Statistics for the 2023 & 2024 Indonesia Solar Energy market size, created by Mordor Intelligence™ Industry Reports. Indonesia Solar Energy size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of Indonesia Solar Energy Industry

Indonesia Solar Energy Market Summary
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Study Period 2020 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2020 - 2022
CAGR > 10.00 %
Market Concentration Medium

Major Players

Indonesia Solar Energy Market Major Players

*Disclaimer: Major Players sorted in no particular order


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Indonesia Solar Energy Market Analysis

The Indonesia solar energy market is expected to register a CAGR of more than 10% during the forecast period.

COVID-19 negatively impacted the market in 2020. Presently the market is likely to reach pre-pandemic levels.

  • Over the medium term, factors like increasing demand for renewable energy due to developmental activities and decreasing cost of solar PV technology are expected to drive the market.
  • On the other hand, heavy dependency on fossil fuels to meet the energy demand is a significant restraint hindering the market's growth.
  • Nevertheless, the increasing concern over environmental emission control, which leads to the premature retirement of existing coal power plants, is expected to create enormous opportunities for Indonesia's solar energy market.

Indonesia Solar Energy Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)