The New and Renewable Energy sector has gained widespread attention in recent years. The renewable energy sources are crucial not really for achieving energy security but also for environmental durability. The globalization has lead with a rapid increase the particular demand for strength 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. The aim is to promote the utilization belonging to the renewable energy sources through the policy reforms, public-private partnership and development from the Ultra Mega Power Projects (UMPP). Present share of possible renewable energy regarding energy mix stands close to 15%. The estimated alternative energy potential from commercially exploitable sources for India is around 900 GW having a total installed capacity of around 310 GW. Thus, actual huge scope available in this sector. Brand new has implemented various projects in the renewable energy sector with an emphasis on research and development, technical and financial support, public awareness and public-private sector synergy. The Ministry of New and Electricity (MNRE) focuses relating to 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 belonging to 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 flexible regulatory norms. Usually also crucial to make 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 essentially concerned with the innovative business aimed to address problem of environmental concerns and offering solutions to mitigate the associated problems. These businesses leverage the opportunities that exist inside of the environmental sector and deploy measures for your sustainable development for this society. The recent upthrust by federal government is enabling diverse opportunities for these entrepreneurs to gauge in the electricity sector.
Current Scenario
The renewable energy sector offers wide opportunity in regards to growth and environmental sustainability. There is however a need to consider the evaluation and bench-marking criteria for the businesses in this industry. There is also a lack of cost effective strategy for the same a 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 customers. 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 Online Udyog Aadhaar Registration In India the reach. This constructed of limited indulgence of this businesses in the sector.
Opportunities
The acceptance and credibility of business is a critical factor for the success of a green entrepreneurship venture. Actual plethora of opportunities in the various domains of the renewable energy segment. These domains include the solar energy technology and installation, bio-fuel generation, bio-fertilizers, consulting services, and also so on. The government has initiated various programs to offer the entrepreneurship in the country, particularly from the renewable sector. Benefits are provided conditions of of incubation centres and mentorship. Strategies 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 it also encompasses the storage and distribution with the energy. Thus, an extremely wide variety of options available in terms of market and finances.