Pumped-storage power plants supplying over 90% of energy

Only sustainable hydropower can provide flexibility and storage on a large scale, said Bruce Douglas, CEO of the Global Renewables Alliance. According to the 2024 World Hydropower Outlook, global interest in hydropower is growing, but it requires government action to turn it into new projects.

The World Hydropower Outlook 2024 is the flagship annual publication of the International Hydropower Association (IHA) that tracks and guides hydropower developments worldwide in the context of pathways to net zero emissions.

The most significant achievement this year is the growth of the global hydropower fleet to 1,416 GW in 2023, while conventional hydropower capacity increased by 7.2 GW to 1,237 GW and pumped-storage capacity increased by 6.5 GW to 179 GW, the report said.

The IHA warns that conventional hydropower additions were the lowest annual contributor this century, although the long-term average is relatively stable at around 20 GW per year. Pumped-storage additions are trending upwards, albeit from a lower base.

Douglas: We will work towards a global storage target

Bruce Douglas, CEO of the Global Renewables Alliance, said the energy transition will require the right mix to ensure renewable electricity is delivered 24/7 while maintaining maximum efficiency.

“To do this, we need not only much more solar and wind, but also the flexibility and storage that only sustainable hydropower, as the backbone of renewable energy, can provide at scale. Recognizing the need for balance and storage, in 2024 we will work towards a global storage target that will go hand in hand with tripling the renewables target,” Douglas emphasized.

According to the report, for hydropower to make the expected contribution to the COP28 goal of tripling the share of renewable energy sources, a relatively small increase from the recent capacity growth trend is needed in the period to 2030, from around 20 GW per year to around 25 GW.

Then, the document adds, to reach net zero emissions, supply must more than double to around 50 GW per year, and this pace must be maintained until 2050.

The IHA assessment of the “100 Major” projects underway indicates that acceleration is within reach in the first years of the next decade, but further action is needed to increase the pace of implementation.

Turnbull: Projects must be sustainable and environmentally friendly

IHA CEO Malcolm Turnbull said hydropower was the single largest source of renewable energy and that pumped-storage hydropower provided more than 90% of all stored energy worldwide.

He stressed that the more clean but variable energy created from the sun and wind, the more hydropower will be needed to provide balance and flexibility when the wind is not blowing and the sun is not shining.

The forecast identifies the interventions that decision-makers will need to undertake.

“While the market supports the delivery of more solar and more wind, it has been less effective in rewarding technologies such as hydropower. This year’s World Hydropower Outlook outlines the interventions that policymakers will need to make to ensure that the clean energy transition is delivered with the right mix of renewable energy sources,” he said.

Hydropower development must be done in a sustainable and environmentally responsible way, Turnbull said. That includes addressing concerns about the potential environmental and social impacts of hydropower projects, as well as navigating public perceptions, he added.

Turnbull called on operators to use the internationally recognised Hydropower Sustainability Standard to demonstrate good and best practice and access funding.

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