The New and Renewable Energy sector has gained widespread attention in the recent past. The renewable energy sources are crucial not only for achieving energy security but also for environmental durability. The globalization has lead to a rapid increase your demand for the energy 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 reduce the renewable energy sources, such as, solar energy, wind energy, bioenergy, geothermal energy, etc. Purpose 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). The current share of the potential renewable energy ultimately energy mix stands close to 15%. The estimated sustainable energy potential from commercially exploitable sources for India is around 900 GW having a total installed capacity of around 310 GW. Thus, is actually no huge scope available in 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 Renewable energy (MNRE) focuses in regards to 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 present in 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 listings. The other important factor will be 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
Green Entrepreneurship is basically concerned with the innovative business aimed to address the matter of environmental concerns and offering solutions to mitigate the associated problems. These businesses leverage the opportunities that exist the actual world environmental sector and deploy measures for that sustainable development for this society. The recent upthrust by the government is enabling diverse opportunities for these entrepreneurs to gauge in the electrical power sector.
Current Scenario
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 category. There is also a not enough cost effective strategy for the same on Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of capacity. This is further exaggerated by the 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 seems to be limited Online Udyog Aadhar Registration in India its reach. This constructed of limited indulgence with the businesses in the sector.
Opportunities
The acceptance and credibility of business is a critical factor for good results of of a green entrepreneurship venture. Actual plethora of opportunities in the various domains of the renewable energy segment. These domains include the power technology and installation, bio-fuel generation, bio-fertilizers, consulting services, and others. The government has initiated various programs to aid the entrepreneurship in the country, particularly on the inside renewable sector. Numerous are provided in terms of incubation centres and mentorship. Strategies also firms and investors available typically the market, to lend support for the green business initiatives. The main focus is not only on the generation of the renewable energy, but furthermore, it encompasses the storage and distribution with the energy. Thus, an extremely wide variety of options available when it comes of market and finances.