The New and Renewable Energy sector has gained widespread attention in recent times. The renewable energy sources are crucial simply for achieving energy security but also for environmental sustainability. The globalization has lead to be able to rapid increase your demand for power . and there a great 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. Intention is to promote the utilization for the renewable energy sources through the policy reforms, public-private partnership and development of this Ultra Mega Power Projects (UMPP). The current share of possible renewable energy ultimately energy mix stands close to 15%. The estimated alternative energy potential from commercially exploitable sources for India is around 900 GW having a total installed capacity of around 310 GW. Thus, it comes with huge scope specific to 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 Electrical power (MNRE) focuses Udyog Aadhar Application Online in India regards to 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 seen in 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 improvements. 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. Usually 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
Green Entrepreneurship fundamentally 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 the sustainable development of the society. The recent upthrust by federal government is enabling diverse opportunities for these entrepreneurs to gauge in the alternative energy sector.
Current Scenario
The renewable energy sector offers wide opportunity in relation to its growth and environmental sustainability. There is however a will need to consider the evaluation and bench-marking criteria for the businesses in this sector. There is also a not enough cost effective technique for the same a Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of storage space. This is further exaggerated the particular 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 has a tendency to be limited in the reach. This permits limited indulgence of this businesses in the sector.
Opportunities
The acceptance and credibility of 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 sector. 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 support the entrepreneurship in the country, particularly from the renewable sector. Significantly are provided with regards to of incubation centres and mentorship. Strategies also firms and investors available the actual planet market, to lend support for the green 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, can be certainly wide variety of options available phrases of of market and finances.