The hydroelectric power generation at private electric utilities in Canada has witnessed a broadly positive trajectory from 2013 to 2023. Starting at 922.09 thousand kilowatts in 2013, it reached 1,402.2 thousand kilowatts in 2023. Notable year-on-year growth rates indicate significant variations, with highs of 17.42% in 2015 and lows of -2.36% in 2020. Recently, the annual growth rate has stabilized with a 2.41% increase in 2023. The CAGR for the 2018-2023 period stood at 2.65%, suggesting moderate but consistent growth.
The forecast from 2024 to 2028 shows a projected steady increase, with a forecasted CAGR of 1.82% and total growth of 9.45% over the five years, indicating a sustained upward trend albeit at a slightly slower pace.
Future trends to watch for include potential regulatory changes, advancements in hydroelectric technology, and shifting energy policies focusing on sustainability. These factors could influence future growth dynamics and impact the predicted trends.}