The UK's pumped hydro power electricity production capacity has shown a relatively steady performance from 2013 to 2023, standing at 2.64 Thousand Megawatts in 2023. A notable drop occurred in 2020 with a -4.49% year-on-year variation, but the capacity stabilized and slightly increased afterward. Over the last two years (2022-2023), the year-on-year variations were 5.62% and 0.34%, signaling a modest recovery. The compound annual growth rate (CAGR) over the last five years from 2018 to 2023 was 0.32%.
From 2024 onward, the forecasted data suggests a continued gradual increase in capacity, reaching 2.68 Thousand Megawatts by 2028, with a projected 5-year CAGR of 0.29% and an overall growth rate of 1.48%.
Future trends to watch for include:
- Technological advancements in storage efficiency and capacity.
- Policy changes promoting renewable energy sources.
- Investment in infrastructure to support scaling and modernization of pumped hydro facilities.