From 2013 to 2023, Indonesia's renewable electricity production showcased volatility, peaking notably in 2020 with a year-on-year increase of 12.21%. The average compound annual growth rate (CAGR) over this 5-year period (2018-2023) stands at 1.31%, indicating modest overall growth despite fluctuations. In 2023, the production level reached 18.6 units.
Looking ahead, the forecast from 2024 to 2028 suggests a stable yet slightly declining trend with a forecasted 5-year CAGR of -0.03%, translating to a slight overall decrease in renewable electricity production by 0.16% over the next five years. Future trends to watch for include:
- Technological advancements in renewable energy sources.
- Governmental policies and incentives promoting clean energy.
- Impact of global energy market fluctuations and environmental mandates.
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