United States HydropowerCompanies (2024 - 2029)

United States Hydropower Market Companies Summary

The US hydropower market is anticipated to experience growth, driven by the increasing adoption of clean energy sources and the presence of abundant hydro resources. However, the market's expansion may be hindered by the rapid adoption of alternative renewable energy sources such as solar and wind energy. Large-scale hydropower, a form of renewable energy generation derived from flowing water, is expected to dominate the market. Despite the rising demand for storage, securing long-term financing to cover high up-front capital costs remains a significant challenge for the sector. Nevertheless, the Department of Energy Water Power Technologies Office continues to witness record funding levels for hydropower research and development. On the other hand, the affordability, accessibility, and prevalence of solar energy in the US are also increasing, making it a strong competitor to hydropower. The solar energy segment is maturing rapidly as solar electricity is now economically competitive with conventional energy sources in most states. Furthermore, wind energy has become the second-largest source of electricity generation, receiving significant support from the government. The increasing focus on alternative renewable energy sources is likely to restrain the hydropower market in the US. The US hydropower market is moderately consolidated with several major players operating in the sector.