For SIDS, the traditional energy model simply isn't sustainable. Rising fuel costs strain economies, the burning of fossil fuels threatens interconnected ecosystems, and a reliance on foreign fuel imports creates climate and trade vulnerabilities. Over 40% of SIDS are burdened with unsustainable debt levels and their heavy reliance on fossil fuels leads to costs ranging from 0.5% to 18% of GDP. The use of renewable energy in SIDS remains low, averaging 20% and the average electricity access rate is approximately 76%, with notable disparities within and among islands. Despite these challenges, SIDS have invaluable opportunities due to their unique geographic characteristics and natural and creative capital, positioning them perfectly as pioneers in the renewable energy revolution.

Access to renewable energy in SIDS offers more than just energy. It represents a path to self-dependence, climate resilience, food security, economic diversification, sustainable development and improved quality of life. It is estimated that SIDS could save $3.3 billion annually by transitioning to 100% renewable energy, equivalent to 3.3% of GDP. Many SIDS are already showing exemplary leadership and ambition, with commitments to 100% renewables in their electricity mix by or before 2030. However, renewable energy projects face high upfront and long-term operating costs, alongside limited access to financing, security, and guarantees posing significant investment risks. Addressing these challenges requires enhancing policy, de-risking mechanisms, and regulatory frameworks to promote greater uptake of renewables. Unlocking investments to ensure project bankability can attract more investors to support energy transformation, and innovative financing mechanisms like blended finance are key. This approach should be complemented by integrating digital technologies across the value chain to meet the ambitions set by SIDS for the new ABAS development pathway. 

Achieving this requires substantial international cooperation, with the true engine of change being the ingenuity and resilience of SIDS themselves. Activating the levers of renewable energy with the necessary finance and partnerships will position SIDS as a leading example for the entire world as we unite in Rising Up for SIDS.