Indonesia Solar Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

The Solar Energy in Indonesia Market is segmented by Connection Type (On-Grid and Off-grid). The report offers the market size and forecasts for Indonesia's solar energy market in installed capacity in gigawatts (GW) for all the above segments.

Indonesia Solar Energy Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Indonesia Solar Energy Market Size

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Indonesia Solar Energy Market Summary
Study Period 2020 - 2030
Base Year For Estimation 2024
Forecast Data Period 2025 - 2030
Historical Data Period 2020 - 2023
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 greater 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 Industry Overview

The Indonesia solar energy market is moderately fragmented. Some of the major players in the market (in no particular order) include Canadian Solar Inc. and PT. Surya Utama Nuansa, PT Solardex Energy Indonesia, PT. Sumber Energi Surya Nusantara, and PT Sumber Energi Sukses Makmur.

Indonesia Solar Energy Market Leaders

  1. PT Sumber Energi Sukses Makmur

  2. PT Solardex Energy Indonesia

  3. Canadian Solar Inc.

  4. PT. Sumber Energi Surya Nusantara

  5. PT. Surya Utama Nuansa

  6. *Disclaimer: Major Players sorted in no particular order
Indonesia Solar Energy Market Concentration
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Indonesia Solar Energy Market News

  • In December 2022, on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), KfW signed a financing agreement with the Indonesian Ministry of Finance for a promotional loan of USD 285 million for the Sustainable and Inclusive Energy Programme (SIEP, Phase III). The financed package of measures includes reforms to promote renewable energies, such as improved price mechanisms for feed-in tariffs, regulation for rooftop solar power systems, or more ambitious energy efficiency standards.
  • In March 2022, Beiersdorf AG entered into a long-term solar power deal with TotalEnergies SE involving a solar rooftop project in Indonesia. The plant will be a 540-kWp solar PV array on top of a manufacturing site to generate 830 MWh of electricity per year to meet 20% of the plant's needs.
  • In January 2022, Masdar signed an agreement with Tuas Power, EDF Renewables, and PT Indonesia Power to develop solar PV plants with a capacity of up to 1.2 GW in Indonesia.

Indonesia Solar Energy Market Report - Table of Contents

1. INTRODUCTION

  • 1.1 Scope of the Study
  • 1.2 Market Definition
  • 1.3 Study Assumptions

2. EXECUTIVE SUMMARY

3. RESEARCH METHODOLOGY

4. MARKET OVERVIEW

  • 4.1 Introduction
  • 4.2 Renewable Energy Mix, Indonesia, 2021
  • 4.3 Solar Energy Installed Capacity and Forecast, in GW, till 2028
  • 4.4 Recent Trends and Developments
  • 4.5 Government Policies and Regulations
  • 4.6 Market Dynamics
    • 4.6.1 Drivers
    • 4.6.2 Restraints
  • 4.7 Supply Chain Analysis
  • 4.8 PESTLE Analysis

5. MARKET SEGMENTATION - BY CONNECTION

  • 5.1 On-grid
  • 5.2 Off-grid

6. COMPETITIVE LANDSCAPE

  • 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
  • 6.2 Strategies Adopted by Leading Players
  • 6.3 Company Profiles
    • 6.3.1 Canadian Solar Inc.
    • 6.3.2 Trina Solar Co. Ltd
    • 6.3.3 TotalEnergies SE
    • 6.3.4 PT. Sumber Energi Sukses Makmur
    • 6.3.5 PT. Solardex Energy Indonesia
    • 6.3.6 PT. Surya Utama Nuansa
    • 6.3.7 PT. Sumber Energi Surya Nusantara
    • 6.3.8
  • *List Not Exhaustive

7. MARKET OPPORTUNITIES AND FUTURE TRENDS

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Indonesia Solar Energy Industry Segmentation

The energy utilized from the radiation of the sun's heat is called solar energy. Solar energy is either directly used in the form of heat or is converted into electricity through various technologies. It mainly consists of two types of technologies, solar photovoltaic and concentrated solar power.

The Indonesia Solar Energy Market is segmented by Connection Type. By connection type, the market is segmented into On-Grid and Off-grid. For each segment, the market sizing and forecasts have been done based on installed capacity in gigawatts (GW).

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Indonesia Solar Energy Market Research FAQs

What is the current Indonesia Solar Energy Market size?

The Indonesia Solar Energy Market is projected to register a CAGR of greater than 10% during the forecast period (2025-2030)

Who are the key players in Indonesia Solar Energy Market?

PT Sumber Energi Sukses Makmur, PT Solardex Energy Indonesia, Canadian Solar Inc., PT. Sumber Energi Surya Nusantara and PT. Surya Utama Nuansa are the major companies operating in the Indonesia Solar Energy Market.

What years does this Indonesia Solar Energy Market cover?

The report covers the Indonesia Solar Energy Market historical market size for years: 2020, 2021, 2022, 2023 and 2024. The report also forecasts the Indonesia Solar Energy Market size for years: 2025, 2026, 2027, 2028, 2029 and 2030.

Indonesia Solar Energy Industry Report

The Indonesia solar energy market is poised for significant growth, driven by the increasing demand for renewable energy and the decreasing cost of solar PV technology. Challenges such as heavy dependence on fossil fuels and competition from other renewable sources like wind and hydro-power could restrain growth. Nonetheless, the off-grid segment is expected to see substantial growth due to Indonesia's unique geographical challenges, with many islands unlikely to be connected to the national grid. Efforts to increase the electrification ratio and government initiatives promoting solar PV installations in remote regions are poised to bolster this segment significantly. Meanwhile, the market benefits from increasing environmental awareness and emission control efforts that lead to the retirement of coal power plants, creating more room for solar expansion. The market is moderately fragmented, with significant players pushing the adoption of solar technology across various sectors. It is categorized based on connection type into on-grid and off-grid, each showing distinct dynamics influenced by national energy policies and infrastructural developments. For detailed statistics about the Indonesia Solar Energy market size, share, revenue growth, and a market forecast outlook, refer to Mordor Intelligence™ Industry Reports offering a comprehensive analysis and a free report PDF download.