Hydropower remains one of the least-expensive energy sources. This remains true even despite recent cost increases. Since 2010, hydropower’s global weighted average levelized cost of energy has increased by 27% to around USD 47 per MWh in FY2019. This uptick is due to rising installation costs, which in turn are largely due to new projects being located in more challenging locations.
In September of 1882, the first-ever hydroelectric power plant began operation, marking a milestone in the production of electricity. Nowadays, more than 16% of the worlds electricity demand is supplied by hydropower, making it by far the strongest within the renewable energy sector. This made us look deeper into hydropower and uncover exciting facts, contributing to the success and enormous growth over the last decades.