Hydroelectric power — boom market of the present, boom market of the future
With the ratification of the Paris Climate Change Convention last November, the two world’s leading economies have now agreed to limit global warming to less than two degrees Celsius and to quit fossil fuels.
The International Energy Agency (IEA) reports that hydropower has already been responsible for around 16% (3.288 TW) of global electricity production and for a remarkable 92% of the electricity generated by renewable energies.
According to the Energy Technology Perspectives 2010 IEA BLUE, which aims to halve global energy-related CO2 emissions by 2050 (compared to 2005 levels), hydropower could grow by up to 6,000 TW in 2050, about twice as much as today.
Also in Europe, hydropower is the most important of renewable resources, and it was responsible for 46% of electricity generated by all renewable energies in 2012.
Composition of electricity production by renewable energies (20171)
With its Renewable Energies Directive (2009/28 / EC), the European Union (EU) is promoting the use of electricity generated by new energies and is aiming to achieve at least 20% of EU energy consumption by 2020 Through renewable energies. As the most important resource in this area, hydropower is likely to benefit most from the associated development — and to offer corresponding growth opportunities in the coming years.
1 Preliminary information, partly estimated