Published By : 21 Jan 2016 | Published By : QYRESEARCH
Asia Pacific has been the largest market for small hydropower, surpassing all other regional segments, namely North America, Europe, Central and South America, and the Middle East and Africa. This market accounted for a 70.30 per cent share in the global small hydropower market. In this region, China is the largest market in terms of installations, with India and Japan following suit.
When it comes to the small hydropower sector, China has performed so remarkably that many developing countries from around the world are using its implementation model to increase their small hydropower capacity and tackle their individual energy issues. Over the past years, small hydropower constructions, in collaboration with small scale water preservation projects, were originally targeted to supply power in the mountainous regions. Of late, however, the small hydropower market in China has thrived and gained considerable attention from the United Nations.
China’s resources to develop small hydropower are huge. Accounting for an estimated 60.0 per cent of the overall installed small hydropower capacity in the country, Guangdong and 20 additional cities and provinces are the most prominent markets. With the implementation of the 12th Five Year Plan, China aimed to up its hydropower by 160GW and pumped storage capacity by 40GW. This is anticipated to fuel the efficiency and capacity of hydropower in several regions in the country. The target for the year 2015 was to complete five small hydropower provinces with a capacity of 5GW and another five provinces with 3GW.
This displays the positive strides that the small hydropower market in China has been making in recent times. These efforts are likely to drive the global market too. The Chinese government has implemented several favorable policies and players within this space have greatly benefited from them. Incentives and tax credits are just two of the ways that the Chinese government promotes the small hydropower market.