The New and Renewable Energy sector has gained widespread attention in recent times. The renewable energy sources are crucial not really for achieving energy security but also for environmental sustainability. The globalization has lead to a rapid increase in the demand for the vitality and there is actually definitely an increased thrust on alteration of the present energy mix. In India, the government has implemented various initiatives for the promotion and coming of the renewable energy sources, such as, solar energy, wind energy, bioenergy, geothermal energy, etc. Intention is to promote the utilization of the renewable energy sources through the policy reforms, public-private partnership and development of this Ultra Mega Power Projects (UMPP). Present share of probable renewable energy in the 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, actual huge scope available in this sector. Brand new has implemented various projects in the renewable energy sector with an concentrate on research and development, technical and financial support, public awareness and public-private sector synergy. The Ministry of New and Renewable power (MNRE) focuses in regards to 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 inside the realization belonging to the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may produced delays as per the anticipated good results. The other important factor will be attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and versatile regulatory norms. Its also crucial to make that the benefits are extendable for the community, in relation to its job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship
Green Entrepreneurship basically concerned with the innovative business aimed to address the issue 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 the sustainable development for the society. The recent upthrust by federal government is enabling diverse opportunities for these entrepreneurs to gauge in the renewable power sector.
Current Scenario
The renewable energy sector offers wide opportunity in terms of growth and environmental sustainability. There is however a should really consider the evaluation and bench-marking criteria for the businesses in this niche. There is also a not enough 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 dimensions. This is further exaggerated through 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 may be limited in its reach. This enables limited indulgence from the businesses Udyog Aadhar MSME Registration Online in India the sector.
Opportunities
The acceptance and credibility of small business is a critical factor for good results of of a green entrepreneurship venture. There is plethora of opportunities in the various domains of the renewable energy niche. These domains include the solar power technology and installation, bio-fuel generation, bio-fertilizers, consulting services, et cetera. The government has initiated various programs to retain the entrepreneurship in the country, particularly in the renewable sector. Numerous are provided with regards to of incubation centres and mentorship. Many also firms and investors available all of the market, to lend support for saving money business initiatives. The main focus is not only on the generation of the renewable energy, but what’s more, it encompasses the storage and distribution of this energy. Thus, an extremely wide variety of options available in terms of market and finances.