Over the past decade (2013-2023), China's hydroelectricity consumption has shown a general upward trend, growing from 8.93 Exajoules in 2013 to standing at 12.48 Exajoules in 2023. Year-on-year growth was particularly strong in the mid-2010s, peaking at 15.8% in 2014. However, the rate of increase has slowed in recent years, with minor declines observed in 2021 and 2022, and a modest recovery of 2% in 2023. An average compound annual growth rate (CAGR) over the past 5 years has been relatively modest at 1.79%.
Looking ahead to the forecast period (2024-2028), China's hydroelectricity consumption is expected to follow a more subdued growth pattern, with a forecasted CAGR of 0.5%. The total consumption is projected to reach 12.89 Exajoules by 2028, indicating a plateauing trend in growth.
Future trends to watch for include:
- Government policy shifts towards renewable energy diversification
- Technological advancements in hydroelectric power efficiency
- Environmental and social impacts of large-scale hydro projects
- Competition from other renewable energy sources like wind and solar power
- Climate change impacts on water availability for hydroelectricity generation