The New and Renewable Energy sector has gained widespread attention in past few years. The renewable energy sources are crucial also for achieving energy security but also for environmental durability. The globalization has lead to a rapid increase in the demand for techniques 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 increase of the renewable energy sources, such as, solar energy, wind energy, bioenergy, geothermal energy, etc. The aim is to promote the utilization on the renewable energy sources through the policy reforms, public-private partnership and development of the Ultra Mega Power Projects (UMPP). The current share of possible renewable energy in the energy mix stands close to 15%. The estimated alternative energy potential from commercially exploitable sources for India is around 900 GW along with a total installed capacity of around 310 GW. Thus, there is huge scope present in this sector. The government has implemented various projects in the renewable energy sector with an focus on research and development, technical and financial support, public awareness and public-private sector synergy. The Ministry of New and Sustainable energy (MNRE) focuses relating to the deployment of the projects and incentives through participation belonging to 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 Udyog Aadhaar MSME Registration in India the realization from the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may develop delays as per the anticipated results. The other important factor is to attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and flexible regulatory norms. Every person also crucial certain that the benefits are extendable into the community, in regards to job opportunities, increased standard of living and environmental durability.
Green Entrepreneurship
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 the actual environmental sector and deploy measures for the sustainable development for the society. The recent upthrust by brand new is enabling diverse opportunities for these entrepreneurs to gauge in the renewable energy sector.
Current Scenario
The renewable energy sector offers wide opportunity in terms of growth and environmental sustainability. There is however a wish to consider the evaluation and bench-marking criteria for the businesses in this sector. There is also a connected with cost effective strategy for the same on Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of dimensions. This is further exaggerated together with 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 has a tendency to be limited in its reach. This permits limited indulgence of your businesses in the sector.
Opportunities
The acceptance and credibility of small business is a critical factor for they’re of a green entrepreneurship venture. Irrespective of how 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, et cetera. The government has initiated various programs to support the entrepreneurship in the country, particularly your renewable sector. Significantly are provided when it comes of incubation centres and mentorship. Many also firms and investors available the actual planet market, to lend support for the green business initiatives. The focus is not only on the generation of the renewable energy, but furthermore, it encompasses the storage and distribution of this energy. Thus, an incredibly real wide variety of options available on the subject of of market and finances.