The Net electricity generated by Hydro power plants in the Global Power and Utilities industry reached 4,161,541.74 GWh in 2020
The indicator recorded a historical growth (CAGR) of 2.08% between 2017 and 2020, and is expected to grow by ...
GlobalData projects the indicator to grow at a CAGR of...
Net electricity generated by Hydro power plants: Global scenario
Hydropower is one of the most widely used and oldest power generating sources, accounting for a significant share of the total power installed capacity as of the end of 2019. Even though fossil fuels dominate electricity generation across the world, more than 60 countries use hydropower to meet majority of their electricity needs. It is the most popular non-polluting source of electricity generation in the world, for reasons which include its ability to instantaneously respond to changing electricity demand, and water management and flood control.
Large hydropower plants usually support baseload power, while pumped storage plants are used to meet the peak power demand. In 2019, large hydro segment accounted for high-double digit share of the total hydropower installed capacity.
The concern for clean, reliable, and affordable power is the foremost factor for the hydropower market growth.
Hydropower projects are totally dependent on water resources, meaning that in drought conditions it is difficult to maintain an uninterrupted power supply. However, during peak power demand, hydropower can provide surplus power, thus contributing toward grid stability and reliability.
Renewable power capacity led by solar and wind power is increasing very rapidly in most countries. This growth is acting as a driver for the growth of pumped storage hydropower installations. Many countries which already have significant penetration of renewable in their grid or which intend to add significant renewable capacity are planning to ramp up their pumped storage capacity at the same pace. Even companies with larger wind installations are also looking to develop their own pumped storage plants to optimize sources of renewable energy. The grid-friendly characteristics of pumped storage such as frequency–voltage balancing, reserve generation, and optimization of baseloads combined with renewable energy integration will certainly continue attracting investment. Global hydropower market growth in 2019 was largely driven by the continued expansion of capacity in China, India, and Brazil, while other major hydropower markets such as US, Canada, and Russia have not added any significant capacity in 2019 and the preceding few years.
Hydroelectric Power- The process of generating electricity by capturing the potential energy of flowing or falling water through the use of a water wheel (turbine) to mechanically spin rotating magnets which create electrical current that can be distributed to users by transmission lines.
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