An improved waterwheel and methods for its use are provided. In an exemplary embodiment, the waterwheel is an undershot waterwheel utilized for electrical power generation. In another embodiment, the waterwheel may be partially or fully submerged. The waterwheel of the present invention may additionally be utilized to provide potable water, oxygen and hydrogen gases. This Abstract is provided for the sole purpose of complying with the Abstract requirement rules that allow a reader to quickly ascertain the subject matter of the disclosure contained herein. This Abstract is submitted with the explicit understanding that it will not be used to interpret or to limit the scope or the meaning of the claims.