The New and Renewable Energy sector has gained widespread attention in the recent past. The renewable energy sources are crucial just for achieving energy security but also for environmental sustainability. The globalization has lead to a rapid increase a demand for the vitality and there is an 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 from the Ultra Mega Power Projects (UMPP). The current share of probable renewable energy ultimately energy mix stands close to 15%. The estimated electrical power potential from commercially exploitable sources for India is around 900 GW having a total installed capacity of around 310 GW. Thus, there is huge scope available in this sector. The government has implemented various projects in the renewable energy sector with an increased exposure of research and development, technical and financial support, public awareness and public-private sector synergy. The Ministry of New and Electricity (MNRE) focuses within 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 inside the realization of the renewable energy mission in terms of credit risk, Udyog Aadhar Registration Online technical risk, policy risk and social factors, which may develop 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 flexible regulatory norms. It’s very also crucial certain that the benefits are extendable to the community, in terms of job opportunities, increased standard of living and environmental durability.
Green Entrepreneurship is essentially concerned with the innovative business aimed to address the problem of environmental concerns and offering in order to mitigate the associated problems. These businesses leverage the opportunities that exist inside of the environmental sector and deploy measures for that 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.
The renewable energy sector offers wide opportunity in relation to its growth and environmental sustainability. There is however a wish to consider the evaluation and bench-marking criteria for the businesses in this niche. 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 functions. 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 has a tendency to be limited in its reach. This enables limited indulgence of your businesses in the sector.
The acceptance and credibility of business 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 market place. These domains include the solar power technology and installation, bio-fuel generation, bio-fertilizers, consulting services, etc. The government has initiated various programs to support the entrepreneurship in the country, particularly in the renewable sector. Benefits are provided with regards to of incubation centres and mentorship. Many also firms and investors available all of the market, to lend support for the green business initiatives. The focus is not only on the generation of the renewable energy, but additionally, it encompasses the storage and distribution in the energy. Thus, an incredibly real wide variety of options available phrases of of market and finances.