Indonesia Solar Energy Market Introduction and Overview
According to SPER Market Research, the Indonesia Solar Energy Market is estimated to reach USD XX billion by 2033 with a CAGR of 10.23%.
The report includes an in-depth analysis of the Indonesia Solar Energy Market, including market size and trends, product mix, Applications, and supplier analysis. As Indonesia seeks to diversify its energy sources and lessen its reliance on fossil fuels, solar energy is drawing a lot of interest and being adopted. The expanding market for solar power generation and related technologies in the nation is referred to as the Indonesia Solar Energy Market. Solar energy uses the sun's energy to produce electricity, providing a renewable and sustainable alternative to conventional energy sources. The manufacturing, installation, and use of solar panels and solar power systems in the residential, commercial, and industrial sectors are all included in the Indonesia Solar Energy Market. It entails the production of electricity using concentrated solar power (CSP) or photovoltaic (PV) devices, which transform sunshine into useful energy. Solar energy facilities, rooftop solar installations, solar panel production, and associated services.
- December 2022: A funding agreement for a promotional loan of USD 285 million for the Sustainable and Inclusive Energy Programme (SIEP, Phase III) was signed by KfW and the Indonesian Ministry of Finance in December 2022 on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). Reforms to support renewable energies are part of the funded package of initiatives, such as more enhanced feed-in tariff price mechanisms, rules for rooftop solar power systems, or more aggressive energy efficiency standards.
- March 2022: With regards to a solar rooftop project in Indonesia, Beiersdorf AG and TotalEnergies SE engaged into a long-term solar power agreement in March 2022. The facility will consist of a 540 kWp solar PV array mounted atop a manufacturing site that will provide 830 MWh of electricity annually, or 20% of the plant's requirements.
Market Opportunities and Challenges
The market is anticipated to be driven in the medium term by factors such as rising demand for renewable energy as a result of development efforts and falling costs of solar PV technology. Also, a sizable opportunity for the Indonesia Solar Energy Market is the development of effective and affordable energy storage technologies. The issues of intermittency can be overcome and a dependable power source made possible by combining solar energy with storage.
On the other hand, many consumers and businesses may find the up-front price of installing solar panels to be a considerable deterrent. Despite falling panel costs, some prospective customers are turned off by the initial investment's high cost. Also, the market's substantial reliance on fossil fuels to meet energy demand represents a significant barrier to the market's expansion.
Market Competitive Landscape
The solar energy market in Indonesia is very slightly fragmented. Canadian Solar Inc., PT. Solardex Energy Indonesia, PT. Sumber Energi Sukses Makmur, PT. Sumber Energi Surya Nusantara, PT. Surya Utama Nuansa, TotalEnergies SE, Trina Solar Co. Ltd are a few of the market's significant participants. With domestic and foreign competitors present, the Indonesian solar energy market has a competitive environment. Companies that manufacture solar panels, create projects, install them, and maintain them compete for market share. To increase their market share, key firms concentrate on technology developments, cost savings, and partnerships with regional partners.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2033 |
| Base year considered | 2022 |
| Forecast period | 2023-2033 |
| Segments covered | By Connection Type
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| Regions covered | Northern Region, Southern Region, Eastern Region, Western Region
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| Companies Covered | Canadian Solar Inc., PT. Solardex Energy Indonesia, PT. Sumber Energi Sukses Makmur, PT. Sumber Energi Surya Nusantara, PT. Surya Utama Nuansa, TotalEnergies SE, Trina Solar Co. Ltd, Others
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COVID-19 Impact on Indonesia Solar Energy Market
The Covid-19 epidemic has had both good and bad implications on the solar energy market in Indonesia. On the one hand, because of limitations and lockdown precautions, the pandemic interrupted supply chains and extended project timelines. As a result, manufacturing and installation operations experienced brief disruptions. The epidemic also brought attention to the necessity of robust and sustainable energy systems, which raised interest in and demand for solar energy. During the crisis, the necessity for dependable and decentralised power sources became apparent, spurring the adoption of solar solutions in off-the-grid towns and isolated places.
Key Target Audience:
- Environmental NGOs
- Government Agencies and Policymakers
- Local and international investors
- Local Communities and End Users
- Private energy companies
- Project Developers and EPC (Engineering, Procurement, and Construction) Firms
- Residential consumers
- Technology Providers and Equipment Manufacturers
- Utilities and Energy Companies
- Others
Our in-depth analysis of the Indonesia Solar Energy Market includes the following segments:
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By Connection Type:
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Off-Grid
On-Grid
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Key Topics Covered in the Report:
- Indonesia Solar Energy Market Size (FY’2023-FY’2033)
- Overview of Indonesia Solar Energy Market
- Segmentation of Indonesia Solar Energy Market By Connection Type (On-Grid and Off-Grid)
- Statistical Snap of Indonesia Solar Energy Market
- Expansion Analysis of Indonesia Solar Energy Market
- Problems and Obstacles in Indonesia Solar Energy Market
- Competitive Landscape in the Indonesia Solar Energy Market
- Impact of COVID-19 and Demonetization on Indonesia Solar Energy Market
- Details on Current Investment in Indonesia Solar Energy Market
- Competitive Analysis of Indonesia Solar Energy Market
- Prominent Players in the Indonesia Solar Energy Market
- SWOT Analysis of Indonesia Solar Energy Market
- Indonesia Solar Energy Market Future Outlook and Projections (FY’2023-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Indonesia Solar Energy Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Indonesia Solar Energy Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Indonesia Solar Energy Market
7. Indonesia Solar Energy Market, By Connection Type (USD Million)
7.1. Indonesia Solar Energy Market Value Share and Forecast, By Connection Type, 2023-2033
7.2. Off-Grid
7.3. On-Grid
8. Indonesia Solar Energy Market Forecast, 2019-2033 (USD Million)
8.1. Indonesia Solar Energy Market Size and Market Share
9. Indonesia Solar Energy Market, By Connection Type, 2019-2033 (USD Million)
9.1. Indonesia Solar Energy Market Size and Market Share By Connection Type (2019-2026)
9.2. Indonesia Solar Energy Market Size and Market Share By Connection Type (2027-2033)
10. Indonesia Solar Energy Market, By Region, 2019-2033 (USD Million)
10.1. Indonesia Solar Energy Market Size and Market Share By Region (2019-2026)
10.2. Indonesia Solar Energy Market Size and Market Share By Region (2027-2033)
10.3. Northern Region
10.4. Southern Region
10.5. Eastern Region
10.6. Western Region
11. Company Profile
11.1. Canadian Solar Inc.
11.1.1. Company details
11.1.2. Financial outlook
11.1.3. Product summary
11.1.4. Recent developments
11.2. PT. Solardex Energy Indonesia
11.2.1. Company details
11.2.2. Financial outlook
11.2.3. Product summary
11.2.4. Recent developments
11.3. PT. Sumber Energi Sukses Makmur
11.3.1. Company details
11.3.2. Financial outlook
11.3.3. Product summary
11.3.4. Recent developments
11.4. PT. Sumber Energi Surya Nusantara
11.4.1. Company details
11.4.2. Financial outlook
11.4.3. Product summary
11.4.4. Recent developments
11.5. TotalEnergies SE
11.5.1. Company details
11.5.2. Financial outlook
11.5.3. Product summary
11.5.4. Recent developments
11.6. Trina Solar Co. Ltd
11.6.1. Company details
11.6.2. Financial outlook
11.6.3. Product summary
11.6.4. Recent developments
11.7. Others
12. List of Abbreviations
13. Reference Links
14. Conclusion
15. Research Scope
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
