From 2013 to 2023, Australia's hydroelectricity consumption has shown fluctuations, peaking at 0.19 Exajoules in 2013 and declining to 0.15 Exajoules by 2023. Over this period, the year-on-year variations have ranged dramatically, from a high positive growth of 27.91% in 2018 to a steep decline of -24.6% in 2014. The Compound Annual Growth Rate (CAGR) over the last five years is -1.24%, indicating a slight overall decrease. The immediate forecast for the next five years shows a stable consumption rate at 0.15 Exajoules with a 0% growth rate, suggesting a plateau in hydroelectricity usage.
Future trends to watch for include:
- The impact of governmental policies on renewable energy incentives.
- Technological advancements in hydroelectric power efficiency.
- Climate change effects on water availability for hydroelectric facilities.
- The role of hydroelectricity within Australia's broader energy mix and its competition with other renewable sources such as solar and wind.
