developing areas. Energy self-sufficiency has been defined as total primary energy production divided by total primary energy supply. Energy trade includes all commodities in Chapter 27 of the Harmonised System (HS). Capacity utilisation is calculated as annual generation divided by year-end capacit Contact online >>
developing areas. Energy self-sufficiency has been defined as total primary energy production divided by total primary energy supply. Energy trade includes all commodities in Chapter 27 of the Harmonised System (HS). Capacity utilisation is calculated as annual generation divided by year-end capacity x 8,760h/year. Avoided
Maldives: Many of us want an overview of how much energy our country consumes, where it comes from, and if we''re making progress on decarbonizing our energy mix. This page provides the data for your chosen country across all of the key metrics on this topic.
The latest value from 2022 is 0.82 billion kilowatthours, an increase from 0.81 billion kilowatthours in 2021. In comparison, the world average is 139.77 billion kilowatthours, based on data from 190 countries. Historically, the average for the Maldives from 1980 to 2022 is 0.26 billion kilowatthours. The minimum value, 0 billion kilowatthours
MALDIVES. With continued strong recovery in tourism, double-digit growth in 2022 was exceptional in a year that saw an economic downdraft snag most countries. Inflation was kept low by subsidies, but the current account deficit increased sharply on large increases to global prices for oil and other commodities.
Electric power consumption (kWh per capita) - Maldives from The World Bank: Data. Free and open access to global development data. Data. This page in: English; Energy use (kg of oil equivalent) per $1,000 GDP (constant 2021 PPP) Combustible renewables and waste (% of total energy)
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Moreover, the Maldives faces a significant fiscal burden from fuel and electricity subsidies, which are estimated to exceed 1.5% of GDP. As global oil prices rise, these subsidies are expected to increase, putting additional strain on government finance. The Maldives is also vulnerable to external shocks, as seen during the recent global oil price hikes following the Russia-Ukraine conflict. The rising cost of fuel imports has also led to dwindling foreign exchange reserves, necessitating foreign borrowing.
The main incentive of the major actors in the energy sector collectively shall be to produce energy at the lowest possible cost and encourage innovation. The current energy sector framework in the Maldives suffers from several misaligned incentives, leading to suboptimal decisions:
Uruguay provides a powerful example of how rapid energy transformation is achievable even for small economies. Faced with severe fiscal challenges and an energy crisis 15 years ago, Uruguay transformed its energy sector in just five years, reaching 98% renewable electricity by 2017. This success was driven by strategic planning, innovative regulatory frameworks, public-private partnerships, and aligning incentives to position renewable energy as the optimal solution for economic independence and cost stabilization.
Uruguay demonstrated that involving the private sector and creating incentives aligned with market principles could quickly achieve energy goals with less strain on public finances. For the Maldives, adopting a similar comprehensive approach could enable a rapid transition to renewables and overcome current challenges.
Investing in renewable energy offers a transformative opportunity for the Maldives to achieve fiscal stability and economic resilience. By addressing misaligned incentives, encouraging private sector participation, and leveraging its abundant renewable resources, the Maldives can reduce its dependency on imported fossil fuels, lower subsidies, and support sustainable economic growth. A carefully designed and market-friendly energy transition can ensure a sustainable and prosperous future for the Maldives.
Asian Development Bank (ADB). (2020).A Brighter Future for Maldives Powered by Renewables: Road Map for the Energy Sector 2020–2030.Manila, Philippines: ADB. doi:https://dx.doi /10.22617/TCS200355-2
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