The New and Renewable Energy sector has gained widespread attention in recent times. The renewable energy sources are crucial not really for achieving energy security but also for environmental sustainability. The globalization has lead to a rapid increase on the demand for strength 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 development of the renewable energy sources, such as, solar energy, wind energy, bioenergy, geothermal energy, etc. Purpose is to promote the utilization for the renewable energy sources through the policy reforms, public-private partnership and development for this Ultra Mega Power Projects (UMPP). Present-day share of the particular renewable energy regarding energy mix stands close to 15%. The estimated electricity potential from commercially exploitable sources for India is around 900 GW using a total installed capacity of around 310 GW. Thus, there is huge scope associated with this sector. Federal government has implemented various projects in the renewable energy sector with an concentrate on research and development, technical and financial support, public awareness and public-private sector synergy. The Ministry of New and Renewable power (MNRE) focuses within 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 associated with the realization of the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may lead to delays as per the anticipated results. 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. Its also crucial certain that the benefits are extendable towards community, in relation to its job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship
Green Entrepreneurship is actually concerned with the innovative business aimed to address concern 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 your sustainable development in 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 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 area. There is also a deficit of cost effective technique for the same in the Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of functions. This is further exaggerated by the lack of domain expertise and limited awareness and motivation among the the public. 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 Udyog Aadhar Registration in India the reach. This enables limited indulgence from the businesses in the sector.
Opportunities
The acceptance and credibility of the is a critical factor for people today . of a green entrepreneurship venture. Have to plethora of opportunities in the various domains of the renewable energy niche. These domains include the solar power technology and installation, bio-fuel generation, bio-fertilizers, consulting services, and also so on. The government has initiated various programs to secure the entrepreneurship in the country, particularly from the renewable sector. Numerous are provided when it comes to of incubation centres and mentorship. There are also firms and investors available in the market, to lend support for saving money 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 with the energy. Thus, can be certainly wide variety of options available on the subject of of market and finances.