Amsterdam - Hydropower is getting enormous support from various governments around the world through favorable policies and incentives. The global hydropower market continued its growth traction in 2010 by adding nearly 38.7 Gigawatts (GW), resulting in a year-on-year growth of 3.8%. Of all the renewable energy sources, hydropower is one of the most widely used, as it is inexpensive and is the oldest form of renewable energy. Hydropower accounted for 76.5% of global renewable power installed capacity as of 2010.
The global hydropower installed capacity increased at a Compounded Annual Growth Rate (CAGR) of 3.5% during the period 2006-2010. The global installed capacity increased from 897 GW in 2006 to 1,031 GW in 2010. With support from various governments, the global hydropower industry is expected to grow at a CAGR of 3.4% during the forecast period of 2011-2020, thereby reaching 1,443 GW by 2020.