The New and Renewable Energy sector has gained widespread attention in of late. The renewable energy sources are crucial just for achieving energy security but also for environmental durability. The globalization has lead together with a rapid increase in the demand for power . and there a good increased thrust on alteration of the existing 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. The aim is to promote the utilization belonging to the renewable energy sources through the policy reforms, public-private partnership and development of this Ultra Mega Power Projects (UMPP). Today’s share of the particular renewable energy regarding energy mix stands close to 15%. The estimated sustainable energy potential from commercially exploitable sources for India is around 900 GW using a total installed capacity of around 310 GW. Thus, is actually no huge scope used 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 Ministry of New and Renewable power (MNRE) focuses at the deployment of the projects and incentives through participation out of your 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 of the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may result in delays as per the anticipated results. The other important factor in order to use attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and versatile regulatory norms. It’s very also crucial to ensure that the benefits are extendable to the community, in regards to job opportunities, increased standard of living and environmental durability.
Green Entrepreneurship
Green Entrepreneurship basically 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 on environmental sector and deploy measures for your sustainable development for the society. The recent upthrust by federal government is enabling diverse opportunities for these entrepreneurs to gauge in the renewable energy sector.
Current Scenario
The renewable energy sector offers wide opportunity in relation to growth and environmental sustainability. There is however a require to consider the evaluation and bench-marking criteria for the businesses MSME Udyog Aadhar Registration in India this industry. 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 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 seems to be limited in the reach. This enables limited indulgence with the businesses in the sector.
Opportunities
The acceptance and credibility of corporation is a critical factor for the success of a green entrepreneurship venture. Hard work plethora of opportunities in the various domains of the renewable energy segment. These domains include the solar energy 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 the particular renewable sector. The benefits are provided when it comes to of incubation centres and mentorship. You will also firms and investors available the actual planet market, to lend support for saving money business initiatives. The focus is not only on the generation of the renewable energy, but what’s more, it encompasses the storage and distribution of the energy. Thus, an incredibly real wide variety of options available in terms of market and finances.