The New and Renewable Energy sector has gained widespread attention in recent years. The renewable energy sources are crucial just for achieving energy security but also for environmental sustainability. The globalization has lead to a rapid increase on the demand for the energy and there a great increased thrust on alteration of the present energy mix. In India, the government has implemented various initiatives for the promotion and improvement the renewable energy sources, such as, solar energy, wind energy, bioenergy, geothermal energy, etc. Intention is to promote the utilization for this renewable energy sources through the policy reforms, public-private partnership and development on the Ultra Mega Power Projects (UMPP). Today’s share of possibilities renewable energy regarding energy mix stands close to 15%. The estimated electricity potential from commercially exploitable sources for India is around 900 GW using a total installed capacity of around 310 GW. Thus, it comes with huge scope specific to this sector. The 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 Sustainable energy (MNRE) focuses at the deployment of the projects and incentives through participation out of your 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 inside the realization belonging to the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may lead to delays as per the anticipated results. The other important factor in order to use attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and versatile regulatory norms. Usually also crucial specific that the benefits are extendable towards community, in relation to job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship
Green Entrepreneurship is essentially concerned with the innovative business aimed to address concern of environmental concerns and offering in order to mitigate the associated problems. These businesses leverage the opportunities that exist on environmental sector and deploy measures for the sustainable development of the society. The recent upthrust by federal government is enabling diverse opportunities for these entrepreneurs to gauge in the alternative energy sector.
Current Scenario
The renewable energy sector offers wide opportunity in regards to growth and environmental sustainability. There is however a require 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 all of the Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of capacity. This is further exaggerated together with lack of domain expertise and limited awareness and motivation among the people. The government, although, has developed policies for supporting the green entrepreneurship and has provided different incentives, but this support has a tendency to be limited in the reach. This constructed of limited indulgence of your businesses in the sector.
Opportunities
The acceptance and credibility of the is a critical factor for the success of a green entrepreneurship venture. Actual plethora of opportunities in the various domains of the renewable energy niche. These domains include the power technology and installation, bio-fuel generation, bio-fertilizers, consulting services, and also so on. The government has initiated various programs to retain the entrepreneurship Online SSI Registration in India the country, particularly from the renewable sector. The benefits are provided conditions of of incubation centres and mentorship. There are also firms and investors available in the market, to lend support for saving money business initiatives. The focus is not only on the generation of the renewable energy, but what’s more, it encompasses the storage and distribution among the energy. Thus, an incredibly real wide variety of options available when it comes of market and finances.