The hydro power production in Spain has shown significant fluctuations over the past decade. After reaching its peak in 2014 at 39.17 Thousand Gigawatthours, the production saw a notable decline, particularly in 2017 with a drastic drop to 18.32 Thousand Gigawatthours. Since then, there has been some recovery, although the growth has been inconsistent. By 2023, hydro power production stood at 29.39 Thousand Gigawatthours, reflecting a slight annual decrease of 0.47% from 2022.
The year-on-year variation over the last two years (2022-2023) shows minimal decline indicating stabilization. The Compound Annual Growth Rate (CAGR) over the last five years (2018-2023) presents a decrease of 3.06%. Looking forward, the forecast from 2024 to 2028 anticipates a steady decline with an average annual decrease of 0.37%, leading to a projected output of 28.72 Thousand Gigawatthours by 2028.
Future trends to watch for include the impact of climate change on water availability, evolving governmental policies on renewable energy, advancements in hydroelectric technology, and competition from other renewable energy sources like wind and solar power. These factors will be crucial in shaping the hydro power landscape in Spain in the coming years.
