The New and Renewable Energy sector has gained widespread attention in recent times. The renewable energy sources are crucial just for achieving energy security but also for environmental durability. The globalization has lead into a rapid increase the particular demand for strength 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 increase of 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 of the Ultra Mega Power Projects (UMPP). The current share of the potential renewable energy within energy mix stands close to 15%. The estimated alternative energy potential from commercially exploitable sources for India is around 900 GW using a total installed capacity of around 310 GW. Thus, actual huge scope specific to 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 Sustainable energy (MNRE) focuses on the deployment of the projects and incentives through participation belonging to 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 within the realization of 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 will be attract new entrants MSME Udyog Aadhar Registration in India this sector by ensuring credible and genuine returns, expansion opportunity and flexible regulatory norms. Usually also crucial to ensure that the benefits are extendable for the community, in relation to job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship
Green Entrepreneurship basically concerned with the innovative business aimed to address problem of environmental concerns and offering in order to mitigate the associated problems. These businesses leverage the opportunities that exist inside of the environmental sector and deploy measures for your sustainable development in the society. The recent upthrust by brand new is enabling diverse opportunities for these entrepreneurs to gauge in the electricity sector.
Current Scenario
The renewable energy sector offers wide opportunity in relation to its growth and environmental sustainability. There is however a will need to consider the evaluation and bench-marking criteria for the businesses in this sector. There is also a lack of cost effective strategy for the same each morning Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of capacity. This is further exaggerated through lack of domain expertise and limited awareness and motivation among the guys. The government, although, has developed policies for supporting the green entrepreneurship and has provided different incentives, but this support may be limited in the reach. This permits limited indulgence of the businesses in the sector.
Opportunities
The acceptance and credibility of small business is a critical factor for they’re of a green entrepreneurship venture. Actual plethora of opportunities in the various domains of the renewable energy sector. These domains include the power technology and installation, bio-fuel generation, bio-fertilizers, consulting services, et cetera. The government has initiated various programs to secure the entrepreneurship in the country, particularly your renewable sector. Numerous are provided in terms of incubation centres and mentorship. Strategies 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 in the energy. Thus, there is wide variety of options available on the subject of of market and finances.