Hydroelectricity consumption in North America has experienced fluctuating trends from 2013 to 2023, with a value of 6.47 Exajoules in 2023. Annual changes varied widely, with notable decreases around 2014 and 2015, and a considerable increase in 2017. Over the past five years, the annual Compound Annual Growth Rate (CAGR) has been slightly negative at -0.83%, indicating a subtle decline overall. From 2021 to 2023, consumption decreased by approximately 0.54% year-on-year.
Looking ahead, forecasts predict stability with minor growth, with the CAGR from 2024 to 2028 expected to be around 0.02%. This suggests an overall steady demand for hydroelectricity in North America.
Future trends to watch for:
- Technological advancements in hydroelectric power generation and storage.
- Government policies and incentives promoting renewable energy.
- Climate change impacts on water resources affecting hydroelectric capacity.
