The New and Renewable Energy sector has gained widespread attention in of late. The renewable energy sources are crucial simply for achieving energy security but also for environmental sustainability. The globalization has lead with a rapid increase a demand for the vitality and there a good increased thrust on alteration of the present energy mix. In India, the government has implemented various initiatives for the promotion and reduce the renewable energy sources, such as, solar energy, wind energy, bioenergy, geothermal energy, etc. Intention is to promote the utilization for the renewable energy sources through the policy reforms, public-private partnership and development from the Ultra Mega Power Projects (UMPP). Present share of the particular renewable energy regarding energy mix stands close to 15%. The estimated electrical power potential from commercially exploitable sources for India is around 900 GW using a total installed capacity of around 310 GW. Thus, is actually no huge scope available in this sector. Federal government has implemented various projects in the renewable energy sector with an focus research and development, technical and financial support, public awareness and public-private sector synergy. The Secretary of state for New and Electrical power (MNRE) focuses relating to the deployment of the projects and incentives through participation throughout the states and various administrative levels. Regulations have been specified at the state level for promoting renewable energy projects in the respective states. There are, however, constraints seen in the realization from the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may end up in delays as per the anticipated results. The other important factor will be attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and flexible regulatory norms. Usually also crucial to ensure that the benefits are extendable on the community, in regards to job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship
Green Entrepreneurship fundamentally concerned with the innovative business aimed to address concern of environmental concerns and offering solutions to mitigate the associated problems. These businesses leverage the opportunities that exist the actual environmental sector and deploy measures for that sustainable development of your society. The recent upthrust by the government is enabling diverse opportunities for these entrepreneurs to gauge MSME Udyog Aadhaar Registration in India the electricity sector.
Current Scenario
The renewable energy sector offers wide opportunity in comparison to its growth and environmental sustainability. There is however a need to consider the evaluation and bench-marking criteria for the businesses in this niche. There is also a associated with cost effective technique for the same in the Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of dimensions. This is further exaggerated together with lack of domain expertise and limited awareness and motivation among the the public. The government, although, has developed policies for supporting the green entrepreneurship and has provided different incentives, but this support may be limited in its reach. This constructed of limited indulgence with the businesses in the sector.
Opportunities
The acceptance and credibility of corporation is a critical factor for the success of a green entrepreneurship venture. There is plethora of opportunities in the various domains of the renewable energy sector. These domains include the solar power technology and installation, bio-fuel generation, bio-fertilizers, consulting services, and also so on. The government has initiated various programs to offer the entrepreneurship in the country, particularly the particular renewable sector. Benefits are provided when it comes to of incubation centres and mentorship. Lucrative also firms and investors available the actual planet market, to lend support for the green business initiatives. The focus is not only on the generation of the renewable energy, but what’s more, it encompasses the storage and distribution of the energy. Thus, can be wide variety of options available with regards to of market and finances.