Spain's hydro power production has displayed significant volatility over the years, with notable peaks and troughs. The highest recorded production in the past decade was in 2014, at 141.01 thousand terajoules, whereas 2017 saw a steep decline to 65.96 thousand terajoules. Subsequent years have shown fluctuations but have generally stabilized around the 105-110 thousand terajoules mark. In 2023, the production stood at 105.81 thousand terajoules, marking a minor decrease of 0.47% from the previous year.
Over the last two years, there was a slight decrease in production values, reflecting a maturing market and possibly environmental constraints. The five-year CAGR up to 2023 was -3.06%, indicating a slow negative trend. Looking forward, the forecast predicts a very slight negative CAGR (-0.37%) till 2028, reflecting a period of stabilization and minor decline.
Future trends to watch:
- Climate change impacts on water availability, which could further affect hydro power production.
- Technological advancements in hydro power that might improve efficiency and offset declines.
- Policy changes and incentives towards renewable energy sources and their potential influence on hydro power investments.
