Geographically, Indonesia has 18 latitudes that correlated strongly with the potential of solar radiation for the implementation of solar photovoltaic (PV) technologies. This is becoming the basis assumption to develop a proportional model of Feed In Tariff (FIT), consequently the FIT will be vary, according to the various of latitudes in Indonesia. This paper proposed a new formulation of solar PV FIT based on the potential of solar radiation and some independent variables such as latitude, longitude, Levelized Cost of Electricity (LCOE), and also socio-economic. The Principal Component Regression (PCR) method is used to analyzed the correlation of six independent variables C1-C6 then three models of FIT are presented. Model FIT-2 is chosen because it has a small residual value and has higher financial benefit compared to the other models. This study reveals the value of variable FIT associated with solar energy potential in each region, can reduce the total FIT to be paid by the state around 80 billion rupiahs in 10 years of 1 MW photovoltaic operation at each 34 provinces in Indonesia.