Forecast: Geothermal and Biomass Energy Consumption in Indonesia

Geothermal and biomass energy consumption in Indonesia has shown a dynamic trend over the years. In 2023, the consumption stood at 40.2 Terawatthours. Significant year-on-year variations were observed, particularly in 2018, with a dramatic increase of 98.08%. Over the last two years, the annual increase was 20.8% in 2022 and 7.78% in 2023. The five-year CAGR leading up to 2023 is calculated at 8.73%, highlighting substantial average annual growth.

Looking into the future, the forecast indicates a steady upward trend in consumption, with a projected five-year CAGR of 5.5% from 2024 to 2028. By 2028, the total consumption is expected to reach approximately 56.98 Terawatthours, marking a total growth rate of 30.72% from 2023.

Future trends to watch for include:

• Potential increases in government support and policy frameworks boosting renewable energy investments.
• Technological advancements in geothermal and biomass energy, reducing costs, and increasing efficiency.
• Growing environmental concerns and global commitments to reduce carbon emissions encouraging a shift towards renewables.