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Hydropower most used ‘renewables’ source through 2020 – report

Hydropower still remains the most widely used renewable energy source and its installed capacity is expected to grow steadily up to 2020, according to GBI Research.

According to their new report, hydropower's cumulative installed capacity is expected to grow from 739.2 gigawatts in 2010 to 1,051.1 GW by 2020, while power generation will grow from 2,483.5 GWh to 3,491.8 GWh in the same period.

New builds will primarily be driven by the increasing support from various governments in the form of favorable and lucrative policies which are encouraging investments from both public and private players, the report said.

Hydropower's widespread use is attributed mostly to its low cost and simplicity in addition to the long history of its use in power generation. It accounted for 93 percent of the total cumulative renewable installed capacity in 2010, and is backed by various governments around the world in the form of favorable policies and incentives.

High demand for electricity and untapped sources will also drive hydropower adoption in South and Central America, the Middle East and Africa, making them key hydropower markets in 2020.

"In majority of the economies around the world, governments are focusing increasingly on hydropower generation, which is the most efficient, economic and reliable form of clean resource for generating power," the report stated. "The high amount of hydropower potential currently untapped across many countries is driving the hydropower market throughout the world." – EcoSeed Staff

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