Hydro Power Plant Market Revenue, Opportunity, Segment and Key Trends 2024

Hydro Power Plant Market Revenue, Opportunity, Segment and Key Trends 2024

2019-09-20T11:31:36+00:00September 20th, 2019|Water Energy|

In recent years, underground hydropower power generation has gained increased significance as a potential alternative in managing inexpensive electricity production in off-grid regions. Characterized by a low environmental impact, these underground hydropower projects are usually less capital-intensive to construct and operate. Hence they are developed on a medium-to-large scale and are widely used in flat regions to power industrial plants and meeting the needs of small communities.

The report provides in-depth insights into the current market status, notable trends, emerging opportunities, recent technological advancements, competitive landscape, and share and size of various segments. The evidence-based findings offered in the report help concerned stakeholders and participants to identify lucrative growth avenues and imminent investment pockets in various regions. 

One of the key hindrances is logistical constraints, a problem aggravated by the presence of steep slopes and difficult terrain. The high cost of excavation and substantial spending required in making seismic surveys and for analysis of water tables are key factors likely to dissuade many to invest in underground hydro power plants. In addition, various feasibility studies pertaining to assessing groundwater exchanges and reservoir volumes may further complicate underground hydro power projects.

Nevertheless, with advances in hydroelectric power generations technology, solutions to all of these challenges are likely to be found in the forthcoming years. The growing popularity of underground pumped storage hydropower and the concept of decentralized renewable energy generation gaining traction among energy producers are key factors expected to open up lucrative growth avenues for market players.

Source : https://newsstoner.com/2019/09/17/hydro-power-plant-market-revenue-opportunity-segment-and-key-trends-2024/