The global underground hydropower plant market is driven by the increasing constraints on large-scale hydropower, according to a new research report from Transparency Market Research (TMR). The report is a recent addition to TMR’s energy portfolio and examines the global underground hydropower market comprehensively in order to present reliable forecasts regarding the future of the market. It is titled “Underground Hydro Power Plant Market - Global Industry Analysis, Market size, Share, Growth, Trends and Forecast 2014 – 2020.”
Underground hydropower plants are hydropower projects built to serve the needs of a single industrial plant or a small community. These are built on a medium-to-large scale. The generating capacity that distinguishes an underground hydropower project is not defined in concrete terms and may vary from 30 MW to 6,000 MW. Depending upon the needs of the particular application of an underground hydropower plant, the plant can be a standalone generator or connected to the grid.
The primary driver for the global underground hydropower market is the increasing restrictions brought upon the large hydropower market due to environmental legislations. Due to the scale of the impact of large hydropower projects, they can cause significant harm to the ecology of the area in which they are built.
Apart from environmental awareness, the difficulty of getting electric power from large hydropower plants to remote areas has also given a massive boost to the underground hydropower market. Particularly in hilly areas, constructing the power infrastructure to manage the needs of a significant population can be difficult. As a result, underground hydropower plants have emerged as the perfect alternative.
This is complemented by the increasing focus on decentralized energy generation as a step in reducing human impact on the environment; decentralization of energy generation helps cut down on the amount of energy lost in distribution, which can add up to massive energy savings cumulatively. Local underground hydropower plants also provide other benefits, such as reduced power cost and flexible supply structure. The payback period of underground hydropower plants is also less than that of large hydropower, which is another significant benefit.
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Three major types of underground hydropower plants can be constructed: Run of river, reservoir-based, and canal-based. Major end users of underground hydropower plants listed in the report are residential users, industrial users, commercial users, and agriculture.
Regionally, Canada is the world’s largest underground hydropower plant market due to the abundant availability of viable hydropower plant sites in the country. The U.S. has also made rapid progress in the last few years to emerge as a major regional player in the global underground hydropower plant market. Undeveloped regions such as Africa and Latin America hold massive potential for the underground hydropower plant market, due to the abundant availability of both groundwater and terrestrial water in Brazil, Paraguay, Colombia, Nigeria, Argentina, Ghana, Colombia, etc.
Major market players profiled in the report include Meridian Energy, Churchill Falls (Labrador) Corporation Limited, Tokyo Electric and Power Company (TEPCO), and AECOM Technology Corporation.
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