Forecast: Fossil Fuel Energy Consumption in Indonesia

From 2013 to 2023, Indonesia's fossil fuel energy consumption demonstrated a steady upward trend, increasing from 65.27 units in 2013 to 68.03 units in 2023. The growth rate, as evidenced by the year-on-year variations, generally ranged from -0.12% to 1.26%, indicating a relatively stable progression.

The Compound Annual Growth Rate (CAGR) of 0.33% over the last five years underscores a moderate yet consistent increase in fossil fuel energy consumption. This trend suggests a gradual escalation in energy demand despite global trends favoring renewable sources.

Looking ahead to the 2024–2028 period, the forecasted data reveals a slight deceleration in growth with a projected five-year CAGR of 0.23%, culminating in an overall growth rate of 1.16%. This indicates that while the demand for fossil fuels will continue to rise, the pace will be marginally slower compared to the previous decade.

Future trends to watch for include:

- Policy shifts towards renewable energy adoption.

- Technological advancements in energy efficiency.

- Potential impacts of global climate change agreements on fossil fuel consumption.