The New and Renewable Energy sector has gained widespread attention in past few years. 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 on the demand for power . and there a good increased thrust on alteration of the present energy mix. In India, the government has implemented various initiatives for the promotion and increase of the renewable energy sources, such as, solar energy, wind energy, bioenergy, geothermal energy, etc. The goal is to promote the utilization on the renewable energy sources through the policy reforms, public-private partnership and development from the Ultra Mega Power Projects (UMPP). The current share of the particular renewable energy in the energy mix stands close to 15%. The estimated renewable 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 present 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 Secretary of state for New and Sustainable energy (MNRE) focuses within the deployment of the projects and incentives through participation from 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 present in the realization from 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 good results. The other important factor end up being attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and flexible regulatory norms. Every person also crucial to make that the benefits are extendable to the community, in comparison to its job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship is basically concerned with the innovative business aimed to address concern 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 for the society. The recent upthrust by the government is enabling diverse opportunities for these entrepreneurs to gauge in the electrical power sector.
The renewable energy sector offers wide opportunity in relation to growth and environmental sustainability. There is however a will need to consider the evaluation and bench-marking criteria for the businesses in this industry. There is also a lack 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 dimensions. This is further exaggerated from your lack of domain expertise and limited awareness and motivation among the people. The government, although, has developed policies for supporting the green entrepreneurship and has provided different incentives, but this support seems to be limited in its reach. This permits limited indulgence from the businesses in the sector.
The acceptance and credibility of business is a critical factor for achievement of a green entrepreneurship venture. Have to plethora of opportunities in the various domains of the renewable energy segment. These domains include the solar power 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 the particular renewable sector. The benefits are provided SSI Online Registration in India terms of incubation centres and mentorship. Lucrative 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 furthermore, it encompasses the storage and distribution among the energy. Thus, can be certainly wide variety of options available when it comes of market and finances.