The New and Renewable Energy sector has gained widespread attention in recent years. The renewable energy sources are crucial also for achieving energy security but also for environmental durability. The globalization has lead with a rapid increase on the demand for strength and there is actually definitely an increased thrust on alteration of the existing 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. The aim is to promote the utilization of the renewable energy sources through the policy reforms, public-private partnership and development on the Ultra Mega Power Projects (UMPP). Present share of probable renewable energy in the energy mix stands close to 15%. The estimated sustainable energy potential from commercially exploitable sources for India is around 900 GW along with a total installed capacity of around 310 GW. Thus, is actually no huge scope present in this sector. Federal government has implemented various projects in the renewable energy sector with an focus on research and development, technical and financial support, public awareness and public-private sector synergy. The Secretary of state for New and Electricity (MNRE) focuses at the deployment of the projects and incentives through participation from 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 of the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may develop delays as per the anticipated good results. The other important factor is to attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and flexible regulatory norms. It’s very also crucial to ensure that the benefits are extendable to the community, in relation to job opportunities, increased standard of living and environmental durability.
Green Entrepreneurship is actually concerned with the innovative business aimed to address the problem of environmental concerns and offering solutions to mitigate the associated problems. These businesses leverage the opportunities that exist inside of the 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 in the electrical power sector.
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 industry. There is also a connected with 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 dimensions. This is further exaggerated through 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 the reach. This permits limited indulgence with the businesses in the sector.
The acceptance and credibility of small business is a critical factor for good results of 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, and also so on. The government has initiated various programs to secure the entrepreneurship Udyog Aadhaar Registration Online in India the country, particularly the particular renewable sector. Significantly are provided when it comes of incubation centres and mentorship. You will also firms and investors available in the market, to lend support for saving money business initiatives. The main focus is not only on the generation of the renewable energy, but additionally, it encompasses the storage and distribution of this energy. Thus, an extremely wide variety of options available in terms of market and finances.