Key Market Indicators
Iceland's hydropower generation is projected to reach approximately 53,100 terajoules by 2028, up from about 50,700 terajoules in 2023. This reflects an average annual growth rate of 0.7%. Since 1995, the country's supply has increased by an average of 0.4% per year. In 2023, Iceland ranked 10th globally in hydropower production, with Finland surpassing it at around 50,700 terajoules. The top spots were secured by Sweden, France, and Italy, ranking second, third, and fourth respectively. Similarly, Iceland's hydropower consumption is also expected to hit approximately 53,100 terajoules by 2028, growing at the same annual rate of 0.7%. Like its supply, the country's demand for hydropower has grown by 0.4% per year since 1995. In 2023, Iceland was 10th in hydropower consumption, with Finland again ahead at around 50,700 terajoules. Sweden, France, and Italy maintained their positions as the second, third, and fourth largest consumers of hydropower.