The New and Renewable Energy sector has gained widespread attention in of late. The renewable energy sources are crucial not only for achieving energy security but also for environmental sustainability. The globalization has lead into a rapid increase on the demand for strength and there is definitely an 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. The aim is to promote the utilization of the renewable energy sources through the policy reforms, public-private partnership and development of the Ultra Mega Power Projects (UMPP). Online marketing share of the particular renewable energy in the energy mix stands close to 15%. The estimated electrical power potential from commercially exploitable sources for India is around 900 GW with a total installed capacity of around 310 GW. Thus, is actually no huge scope present in this sector. The government has implemented various projects in the renewable energy sector with an increased exposure of research and development, technical and financial support, public awareness and public-private sector synergy. The Ministry of New and Renewable energy (MNRE) focuses within 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 associated with 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 end up being attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and flexible regulatory norms. It is also crucial to make that the benefits are extendable for the community, in terms of job opportunities, increased standard of living and environmental durability.
Green Entrepreneurship is basically concerned with the innovative business aimed to address problem 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 your sustainable development of your society. The recent upthrust by federal government is enabling diverse opportunities for these entrepreneurs to gauge in the renewable energy sector.
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 industry. There is also a not enough cost effective technique for the same on Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of storage space. This is further exaggerated together with lack of domain expertise and limited awareness and motivation among the customers. The government, although, has developed policies for supporting the green entrepreneurship and has provided different incentives, but this support is able to be limited MSME Registration Certificate in India its reach. This permits limited indulgence from the businesses in the sector.
The acceptance and credibility of corporation is a critical factor for the success of a green entrepreneurship venture. Irrespective of how 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, etc. The government has initiated various programs to aid the entrepreneurship in the country, particularly the particular renewable sector. The benefits are provided conditions of of incubation centres and mentorship. You will also firms and investors available typically the market, to lend support for the green business initiatives. The focus is not only on the generation of the renewable energy, but you’ll find it encompasses the storage and distribution with the energy. Thus, can be certainly wide variety of options available in terms of market and finances.