My latest idea for worldbuilding involves a world in which the surface of the planet is 95% of the planet's surface covered in saltwater (there are still minerals and other collectible resources on the ocean floor). The species of this world, a fully aquatic species called the Aizon, are highly intelligent and have telepathic abilities which act as their main method of communication.
Their civilization is meant to be a technological marvel that surpasses all of my other societies in terms of advancement, but that leads to my biggest question. Is it even possible for an aquatic society to get significantly more advanced than a terrestrial one? How could that be achieved?
Specifically, I am asking what kind of limitations would there be to technology if everything had to be made and manufactured underwater. Are there certain things that could simply not be realistically achieved? While I am not making a science fiction novel, I still want there to be a reasonable explanation for how this society arose in the first place.
Here are some of the most obvious ideas I have thought about.
Hydroelectric power would probably be the most likely source of power for a world that is underwater. Powerful currents would be able to spin a turbine which would then allow there to be power. However, this leads to a problem.
Since water and electricity are a dangerous combination, wouldn't it be a risk just to have generators in the first place? If it is impossible to safely generate electricity underwater without having my species fry themselves, that would make advancement extremely difficult, would it not?
Another issue I see is the problem of how they are going to get around. Cars would not be practical underwater, and swimming around everywhere would be about as exhausting as forcing people to walk to and from work and such. Perhaps there would be some type of special submarinelike vehicles these people could drive around? That certainly sounds plausible, though it's made more difficult to swallow when you consider these submarines would have to be filled with water to allow the species to breathe while inside the vehicle.
Summary: To be very specific with my question, I just want to know if there are any insurmountable limits to underwater technology, problems that no amount of creativity could solve. Is an underwater utopia with working electricity, supercomputers, and possibly more, an impossibility? Or is it possible, just far more difficult to achieve than on land?
Edit: To clarify a little further, I don't just how technology can be made underwater, I wish to understand how far it could advance before it reaches a theoretical limit. Would water-based technology ever make a world far more advanced than ours? If so, how?