The gross inland consumption of hydro power in Spain exhibited substantial fluctuations from 2013 to 2023. In 2023, it stood at 29.39 thousand GWh, reflecting a slight decline of 0.47% from the previous year. Over the past two years, from 2021 to 2023, there was a noticeable downward trend with year-on-year declines of 0.32% and 0.47% respectively. The five-year compounded annual growth rate (CAGR) up to 2023 indicated an average annual decrease of 3.06%.
Looking at the forecast from 2024 to 2028, the hydro power gross inland consumption is projected to continue its slight downward trend, with an anticipated 5-year CAGR of -0.37%. This suggests a relatively stable yet mildly declining hydro power consumption over the forecast period.
Future trends to watch for include:
- Potential impact of climate change on hydro power availability and variability.
- Government policies and incentives towards renewable energy transitions.
- Technological advancements in hydro power efficiency and the integration of innovative energy storage solutions.
- Hydro power's competition with other renewable energy sources like solar and wind, and hybrid energy systems.
