Acknowledgement
The author received a scholarship from the government of the Republic of Korea to do doctoral studies at Tech University of Korea (former Korea Polytechnic University), and the paper was written as part of his doctoral research on sustainable energy systems in SIDS. The author extends his appreciation to Dr. Kajal Fowdar from the Mauritius Renewable Energy Agency, Mr. Rito Evora from the Ministry of Industry, Trade, and Energy of Cabo Verde, as well as other individuals in the Maldives and South Korea, who kindly assisted in the preparation of this paper.
References
- AbdulHadi, A. (2020). Bank of Maldives introduces unsecured Green Loans up to MVR 500,000, en.sun.mv/63816
- ADB (2002). Poverty reduction in the Maldives: issues, findings and approaches, Asian Development Bank, https://www.adb.org/sites/default/files/publication/27927/povred -mld.pdf
- ADB (2011). Country Assistance Program Evaluation, ADB Evaluation Study: www.oecd.org/countries/maldives/49049206.pdf
- ADB (2020). A brighter future for Maldives powered by renewables: Road map for the energy sector 2020-2030, www.adb.org/sites/default/files/publication/654021/renewables-roadmap-energy-sector-maldives.pdf
- Amer, M. and Daim, T.U. (2010). Application of technology roadmaps for renewable energy sector. Technological forecasting and social change, 77(8), pp.1355-1370. https://doi.org/10.1016/j.techfore.2010.05.002
- Ayoub, N., & Yuji, N. (2012). Governmental intervention approaches to promote renewable energies-Special emphasis on Japanese feed-in tariff. Energy Policy, 43, 191-201. https://doi.org/10.1016/j.enpol.2011.12.056
- Ayuso, M., Boshell, F., and Roesch, R. (2015). RD&D for renewable energy technologies: Cooperation in Latin America and the Caribbean, www.irena.org/-/media/Files/IRENA/Agency/Publication/2015/IRENA_RDandD_Renewable_Energy_Technologies_LAC_2015.pdf
- Azwar, A., (2019). The diffusion of renewable electricity technologies in Small Island Developing States: The case of the Maldives (doctoral dissertation). Victoria University of Wellington, New Zealand.
- Bento, N. and Fontes, M., (2015). Spatial diffusion and the formation of a technological innovation system in the receiving country: The case of wind energy in Portugal. Environmental Innovation and Societal Transitions, 15, 158-179. https://doi.org/10.1016/j.eist.2014.10.003
- Bergek, A., & Jacobsson, S. (2003). The emergence of a growth industry: a comparative analysis of the German, Dutch and Swedish wind turbine industries. In Change, transformation and development (pp. 197-227). Physica, Heidelberg.
- BML (2020) BML introduces unsecured green loan up to MVR500,000, Bank of Maldives, https://www.bankofmaldives.com.mv/articles/292/pdf/en
- Costa, A. (2015). Needs for Innovation and Strategic Partnerships, https://www.german-energy-solutions.de/GES/Redaktion/DE/Publikationen/Praesentationen/2015/2015-07-21-iv-kap-verde-03-mtide.pdf?__blob=publicationFile&v=7
- Couture, T.D. and Leidreiter, A. (2014). How to Achieve 100% Renewable Energy: Policy Handbook. World Future Council.
- Cojoianu, T.F., Clark, G.L., Hoepner, A.G., Veneri, P. and Wojcik, D. (2020). Entrepreneurs for a low carbon world: How environmental knowledge and policy shape the creation and financing of green start-ups. Research Policy, 49(6), p.103988.
- DKAN (2021). OpenData Mauritius, https://data.govmu.org/dkan/
- Edsand, H.E., (2019). Technological innovation system and the wider context: A framework for developing countries. Technology in Society, 58, p.101150.
- ESMAP (2021). Renewable Capacity Per Capita, Tracking SDG 7, Energy Sector Management Programme, https://trackingsdg7.esmap.org/
- Fischer, C., and Newell, R. G. (2008). Environmental and technology policies for climate mitigation. Journal of environmental economics and management, 55(2), 142-162. https://doi.org/10.1016/j.jeem.2007.11.001
- Hadush, S.Y. and Bhagwat, S. (2019). A comparative study of renewable energy and electricity access policies and regulatory frameworks in the Indian Ocean islands: the case of Mauritius, Seychelles, Madagascar and Comoros.
- Hekkert, M.P., Suurs, R.A., Negro, S.O., Kuhlmann, S. and Smits, R.E. (2007). Functions of innovation systems: A new approach for analysing technological change. Technological forecasting and social change, 74(4), pp.413-432. https://doi.org/10.1016/j.techfore.2006.03.002
- Hoggett, R. (2014). Technology scale and supply chains in a secure, affordable and low carbon energy transition. Applied Energy, 123, pp.296-306. https://doi.org/10.1016/j.apenergy.2013.12.006
- IRENA (2014). Renewable Islands: Setting for Success, International Renewable Energy Agency, https://www.irena.org/-/media/Files/IRENA/Agency/Publication/2014/GREIN_Settings_for_Success.pdf
- IRENA (2015). Renewable Energy Roadmap for the Republic of Maldives, https://www.irena.org/-/media/Files/IRENA/Agency/Events/2015/Sep/17/IRENA_Maldives_renewable_energy_roadmap.pdf
- IRENA (2018). Improving islands capacities to develop bankable renewable energy projects, International Renewable Energy Agency, https://www.irena.org/events/20 18/Jan/Improving-islands-capacities-to-develop-bankable-renewable-energy-projects
- IEA (2021). Mauritius Renewable Energy Agency, https://www.iea.org/policies/6428-mauritius-renewable-energy-agency-marena, 13.
- Johnson, A. and Jacobsson, S. (2001). Inducement and blocking mechanisms in the development of a new industry: the case of renewable energy technology in Sweden. Technology and the market: demand, users and innovation, pp.89-111.
- Jung, T.Y. and Kim, D. (2017). A solar energy system with energy storage system for Kandooma Island, Maldives. Korea Energy Economic Review, 16(2), pp.33-56. https://doi.org/10.22794/KEER.2017.16.2.002
- Jung, T.Y., Kim, D., Moon, J. and Lim, S. (2018). A scenario analysis of solar photovoltaic grid parity in the Maldives: The case of Malahini resort. Sustainability, 10(11), p.4045.
- Jung, T.Y., Kim, D., Lim, S. and Moon, J. (2019). Evaluation criteria of independent hybrid energy systems. International Journal of Low-Carbon Technologies, 14(4), pp.493-499. https://doi.org/10.1093/ijlct/ctz036
- Keeley, A.R. (2017). Renewable Energy in Pacific Small Island Developing States: the role of international aid and the enabling environment from donor's perspectives. Journal of Cleaner Production, 146, pp.29-36. https://doi.org/10.1016/j.jclepro.2016.05.011
- Kline, S.J. and Rosenberg, N. (2010). An overview of innovation. Studies on science and the innovation process: Selected works of Nathan Rosenberg, pp.173-203.
- Madhou, M., Moosun, S. B., & Modi-Nagowah, D. N. (2022). A multipronged approach to innovation: The Mauritius Case Study. Asian Journal of Innovation and Policy, 11(1), 50-68. https://doi.org/10.7545/AJIP.2022.11.1.050
- Masini, A., & Menichetti, E. (2013). Investment decisions in the renewable energy sector: An analysis of non-financial drivers. Technological Forecasting and Social Change, 80(3), 510-524. https://doi.org/10.1016/j.techfore.2012.08.003
- ME (2020). Update of Nationally Determined Contribution of Maldives, Ministry of Environment Maldives
- MEE (2013). Maldives SREP Investment Plan 2013 - 2017. Ministry of Environment, Maldives
- MEPU (2019). Renewable Energy Roadmap 2030 for the Electricity Sector, Ministry of Energy and Public Utilities, Mauritius
- MEPU (2022). Renewable Energy Roadmap 2030 for the Electricity Sector Review 2022, Ministry of Energy and Public Utilities, Mauritius
- MI (2015). Chinese company to install solar panels in Hulhumale, Maldives Independent, https://maldivesindependent.com/environment/chinese-company-to-install-solar-panels -in-hulhumale-118513
- MFR (2022). Switching to solar, Maldives Financial Review, https://mfr.mv/climate-change-and-environment/switching-to-solar
- MoF (2021). Budget in Statistics, 2021, Ministry of Finance, https://www.finance.gov. mv/public/attachments/Em0mwtqxQ9hYFJUq6lhfuqvFjs4Bpp5wIAE4FxUF.pdf
- MRIC (2021). Schemes, Mauritius Research and Innovation Council, https:// www.mric.mu/innovation-and-commercialisation-schemes
- Mushtaq, S., & Siddiqui, D. A. (2016). Effect of interest rate on economic performance: evidence from Islamic and non-Islamic economies. Financial Innovation, 2(1), 1-14. https://doi.org/10.1186/s40854-015-0019-0
- Nayar, C.V. (2010). High renewable energy penetration diesel generator systems. INTECH Open Access Publisher.
- Nordman, E., Barrenger, A., Crawford, J., McLaughlin, J. and Wilcox, C. (2019). Options for achieving Cape Verde's 100% renewable electricity goal: a review. Island Studies Journal, 14(1).
- PAGE (2021). Greening the SMEs: Improving SME Access to Green Finance in Mauritius, Partnership for Action on Green Economy, https://archive.unpage.org/files/public/greening_the_smes_improving_sme_access_to_green_finance_in_ mauritius _0.pdf
- Painuly, J.P. (2001). Barriers to renewable energy penetration; a framework for analysis. Renewable energy, 24(1), 73-89. https://doi.org/10.1016/S0960-1481(00)00186-5
- President's Office (2022). Maldives' Special Envoy for Climate Change says collective and collaborative work necessary to safeguard Maldives' marine resources, https://presidency.gov.mv/Press/Article/24837
- PU (2022). Press Conference on Review of Renewable Energy Roadmap 2030, Public Utilities, https://publicutilities.govmu.org/News/SitePages/Press-Conference-on-Review-of-Renewable-Energy-Roadmap-2030.aspx
- Ramakumar, R., Abouzahr, I., Krishnan, K., & Ashenayi, K. (1995). Design scenarios for integrated renewable energy systems. IEEE Transactions on Energy Conversion, 10(4), 736-746. doi:10.1109/60.475847
- Rehan, M. (2022). Environment Minister assures slicing oil expenditure, The Edition, https://edition.mv/news/24317
- Reilles, C., Tadeo, F. and Nachidi, M. (2019). October. Powering an island resort by renewable energy-A feasibility analysis in the Maldives. In 2019 8th International Conference on Systems and Control (ICSC) (pp. 372-376). IEEE.
- Rogers, T. (2016). Development of innovation systems for small island states: A functional analysis of the Barbados solar water heater industry. Energy for Sustainable Development, 31, 143-151. https://doi.org/10.1016/j.esd.2016.01.002
- Sawulski, J., Galczynski, M. and Zajdler, R. (2019). Technological innovation system analysis In a follower country-the case of offshore wind in Poland. Environmental Innovation and Societal Transitions, 33, pp.249-267. https://doi.org/10.1016/j.eist.2019.07.002
- Sovacool, B.K. (2013). A qualitative factor analysis of renewable energy and Sustainable Energy for All (SE4ALL) in the Asia-Pacific. Energy Policy, 59, pp.393-403. https://doi.org/10.1016/j.enpol.2013.03.051
- Shah, K.U., Roy, S., Chen, W.M., Niles, K. and Surroop, D. (2020). Application of an Institutional assessment and design (IAD)-enhanced integrated regional energy policy and planning (IREPP) framework to island states. Sustainability, 12(7), p.2765.
- Siyambalapitiya, T. (2018). Tariff Appraisal Study: Balancing Sustainability and Efficiency with Inclusive Access, Asian Development Bank
- UNCTAD (2022). Frontier technology readiness index, United Nations Technology Conference on Trade and Development, https://unctadstat.unctad.org/wds/Table Viewer/tableView.aspx?ReportId=227701
- van Alphen, K., Hekkert, M.P. and van Sark, W.G. (2008). Renewable energy technologies in the Maldives-Realizing the potential. Renewable and Sustainable Energy Reviews, 12(1), pp.162-180. https://doi.org/10.1016/j.rser.2006.07.006
- Vaz, G. (2020). Cabo Verde: towards the issuance of green titles, https://luxdev.lu/ en/news/show/2020-10-05
- Waheed, M. (2016). BML launches Green Loan to encourage investment in environment-friendly technology, https://miadhu.mv/article/en/4341, Accessed 23 April 2021
- World Bank (2019). A Sure Path to Sustainable Solar. Washington, DC: World Bank.
- World Bank (2020). Supplement to the Project Appraisal Document, Accelerating Sustainable Private Investments in Renewable Energy (P145482), https:// documents1.worldbank.org/curated/en/939571581994906489/pdf/Maldives-Accelerating -Sustainable-Private-Investments-in-Renewable-Energy-ASPIRE-Project-Supplement- to-the-Project-Appraisal-Document.pdf
- World Bank (2021). Worldwide Governance Indicators, World Bank, http://info. worldbank.org/governance/wgi/pdf/PIA.xlsx, Accessed
- World Bank (2022a). Domestic Credit to Private Sector (% of GDP), https:// data.worldbank.org/indicator/FS.AST.PRVT.GD.ZS
- World Bank (2022b). De-risking investments to build a green Maldives, World Bank, https://www.worldbank.org/en/news/feature/2022/04/20/derisking-investments-to-build-a-green-maldives
- World Bank (2022c). Energy intensity level of primary energy (MJ/$2017 PPP GDP) - Maldives, Mauritius, Cabo Verde, Singapore, World Bank https://doi.org/10.2514/8.155
- Wright, T. P. (1936). Factors affecting the cost of airplanes. Journal of the aeronautical sciences, 3(4), 122-128. https://doi.org/10.2514/8.155
- Yasunaga, Y., Watanabe, M., & Korenaga, M. (2009). Application of technology roadmaps to governmental innovation policy for promoting technology convergence. Technological Forecasting and Social Change, 76(1), 61-79. https://doi.org/10.1016/j.techfore.2008.06.004
- Zahir, N. (2014). Renewable Energy for a Greener Future, Hotelier Maldives, https://hoteliermaldives.com/renewable-energy-for-a-greener-future/
- Zalif, Z. (2019) FENAKA aims to convert 70 percent of services to renewable energy by 2023, Rajje MV, https://raajje.mv/65060
- Zhao, J., & de Pablos, P. O. (2011). Regional knowledge management: the perspective of management theory. Behaviour & Information Technology, 30(1), 39-49. doi:10.1080/0144929x.2010.492240
- Ziyau, I. (2019). I want to see 50% of our generation coming from solar within the next 5 years, www.stelco.com.mv/archives/6085