Indonesia's Mean Feed-In Tariff for Marine Energy stood at $0.10 in 2023. Observing the data from 2013 to 2023, the tariff witnessed a significant initial decline until 2016, with annual reductions peaking at -11.81% in 2014. Additionally, 2017 marked a notable recovery with a 19.21% increase, followed by fluctuations. Over the last two years (2022-2023), the tariff increased modestly by 2.61% and 2.49%, respectively. The last 5-year CAGR (up to 2023) was marked at 2.55%, showing steady but moderate annual growth.
The forecast from 2024 to 2028 indicates a gradual increase, with the Mean Feed-In Tariff expected to reach $0.12 by 2028, achieving an average yearly growth rate (5-year CAGR) of 1.71% and an overall growth rate of 8.86% during this period.
Future trends to watch for:
- Government policies and incentives for renewable energy, particularly marine energy.
- Technological advancements that could reduce the cost of marine energy production.
- Global market trends and their impact on Indonesia's energy tariffs.
- Potential environmental implications and sustainability measures affecting marine energy.
