Forecasted data indicates a steady year-on-year increase in hydro power energy supply in Norway. The supply shows consistent growth from 12.36 Million Tonnes of Oil Equivalent (Mtoe) in 2024, rising incrementally each year to reach 12.72 Mtoe by 2028. This forecast suggests a notable continuation of the historical trend, which stood at 12.27 Mtoe in 2023. The year-on-year percentage variation between 2024 and 2028 remains minor but positive, reflecting a stable increase in hydro power supply. The compound annual growth rate (CAGR) over the last five years (2024-2028) is modest, indicating a gradual but reliable enhancement in supply capacity.
Future trends to watch for include:
- Technological advancements in hydro power efficiency.
- Potential impacts of climate change on water resources.
- Government policies and funding for renewable energy projects.
- Integration of hydro power with other renewable energy sources.
