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 your demand for the vitality and there is 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. Purpose is to promote the utilization for this renewable energy sources through the policy reforms, public-private partnership and development on the Ultra Mega Power Projects (UMPP). Present share of the particular renewable energy ultimately energy mix stands close to 15%. The estimated renewable energy potential from commercially exploitable sources for India is around 900 GW along with a total installed capacity of around 310 GW. Thus, actual huge scope associated with this sector. Federal government has implemented various projects Udyog Aadhaar Registration Online in India 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 on 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 among 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 end up being 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 on the community, in terms of job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship basically concerned with the innovative business aimed to address the matter of environmental concerns and offering in order to mitigate the associated problems. These businesses leverage the opportunities that exist on environmental sector and deploy measures for the sustainable development in the society. The recent upthrust by federal government is enabling diverse opportunities for these entrepreneurs to gauge in the electricity sector.
The renewable energy sector offers wide opportunity in comparison to its growth and environmental sustainability. There is however a require 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 in the Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of dimensions. This is further exaggerated from your 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 it seems to be limited in the reach. This will allow limited indulgence with the businesses in the sector.
The acceptance and credibility of corporation is a critical factor for people today . of a green entrepreneurship venture. There is 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, numerous. The government has initiated various programs to offer the entrepreneurship in the country, particularly the particular renewable sector. Benefits are provided with regards to of incubation centres and mentorship. You will also firms and investors available in 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 in the energy. Thus, can be wide variety of options available when it comes of market and finances.