Hydropower Market, By Size (Large Hydropower (Scope: >100 MW), Small Hydropower (Scope: <10 MW), Other Sizes (Scope: 10-100 MW)), By Region (North America, Latin America, Europe, Asia Pacific, Middle East, Africa) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Hydropower, also known as water power, uses falling or fast-running water to generate electricity. This form of renewable energy uses kinetic and gravitational energy from water, and is a good option for a more sustainable method of energy production. The most common source of energy for hydropower is water. It is the natural energy source that provides electricity without polluting the environment.
Market Dynamics:
Growing initiatives by government to increase the number of hydropower coupled with the increasing demand for reliable source of electricity are major factor driving growth of the hydropower market. For instance, in June 2020, the first unit of the 10,200-MW Wudongde hydropower station was connected to the grid for power generation and completed 72 hours of trial operation. It is the third hydropower station with a capacity above 10,000 MW in China and the seventh in the world. The project is scheduled to be operational in 2021, reaching an annual power generation of 39 million MWh.
However, negative environmental impact of hydropower and high initial cost of hydroelectric infrastructure are expected to hinder the market growth.
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