The New and Renewable Energy sector has gained widespread attention in the recent past. The renewable energy sources are crucial also for achieving energy security but also for environmental durability. The globalization has lead into a rapid increase in the demand for the vitality and there is actually definitely an increased thrust on alteration of the present 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. Intention is to promote the utilization belonging to the renewable energy sources through the policy reforms, public-private partnership and development on the Ultra Mega Power Projects (UMPP). Udyog Aadhar Application Online in India marketing share of the particular renewable energy within energy mix stands close to 15%. The estimated sustainable energy potential from commercially exploitable sources for India is around 900 GW having a total installed capacity of around 310 GW. Thus, it comes with huge scope used in this sector. Brand new 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 Electricity (MNRE) focuses relating to 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 present in the realization with the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may produced delays as per the anticipated results. The other important factor is attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and versatile regulatory norms. Usually also crucial certain that the benefits are extendable on the community, in relation to job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship
Green Entrepreneurship is basically concerned with the innovative business aimed to address the matter 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 your sustainable development of 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 will need to consider the evaluation and bench-marking criteria for the businesses in this category. There is also a associated with cost effective strategy for the same all of the Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of capacity. This is further exaggerated through 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 may be limited in the reach. This will allow limited indulgence of the businesses in the sector.
Opportunities
The acceptance and credibility of the business is a critical factor for the success 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, and others. The government has initiated various programs to secure the entrepreneurship in the country, particularly the particular renewable sector. The benefits are provided conditions of of incubation centres and mentorship. Lucrative also firms and investors available in the market, to lend support for the green business initiatives. The focus is not only on the generation of the renewable energy, but what’s more, 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.