The mean feed-in tariff for biomass energy in India exhibited relatively stable growth from 2013 to 2023. In 2023, it stood at 0.13 USD. Year-on-year variation showed minor fluctuations, with a notable dip of 12.35% in 2018, but returned to a steady rise thereafter. In the last two years, the variation was 2.41% in 2023, with the trend indicating gradual yet consistent growth. The Compound Annual Growth Rate (CAGR) over the past five years is 3.81%, suggesting a steady annual growth rate. Forecast for the next five years projects a five-year CAGR of 1.66%, indicating a slower, but still positive growth trend, estimated at 8.58% overall.
Future Trends to Watch For:
- Government policy changes providing more incentives for biomass energy.
- Technological advancements reducing the cost of biomass energy production.
- Increased investment and focus on renewable energy sources.
- Global market fluctuations impacting feed-in tariff structures.