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 with a rapid increase your demand for strength and there a great increased thrust on alteration of the existing energy mix. In India, the government has implemented various initiatives for the promotion and improvement 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 from the Ultra Mega Power Projects (UMPP). Today’s share of possible 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 with a total installed capacity of around 310 GW. Thus, is actually an huge scope present in this sector. Federal government has implemented various projects in the renewable energy sector with an increased exposure of research and development, technical and financial support, public awareness and public-private sector synergy. The Secretary of state for New and Electrical power (MNRE) focuses within the deployment of the projects and incentives through participation at a 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 in the realization among the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may develop delays as per the anticipated improvements. The other important factor is attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and flexible regulatory norms. It’s very also crucial certain that the benefits are extendable to the community, in comparison to its job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship basically concerned with the innovative business aimed to address problem of environmental concerns and offering in order 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 the government is enabling diverse opportunities for these entrepreneurs to gauge in the electrical power sector.
The renewable energy sector offers wide opportunity in terms of growth and environmental sustainability. There is however a need to consider the evaluation and bench-marking criteria for the businesses in this niche. There is also a associated with cost effective technique for the same a Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of storage space. This is further exaggerated the particular lack of domain expertise and limited awareness and motivation among the guys. The government, although, has developed policies for supporting the green entrepreneurship and has provided different incentives, but this support it seems to be limited in the reach. This enables limited indulgence of the businesses MSME Registration Process in India the sector.
The acceptance and credibility of corporation is a critical factor for achievement of a green entrepreneurship venture. Hard work plethora of opportunities in the various domains of the renewable energy niche. These domains include the power technology and installation, bio-fuel generation, bio-fertilizers, consulting services, and also so on. The government has initiated various programs to aid the entrepreneurship in the country, particularly your renewable sector. Benefits are provided conditions of of incubation centres and mentorship. There are also firms and investors available typically the market, to lend support for the green business initiatives. The main focus is not only on the generation of the renewable energy, but additionally, it encompasses the storage and distribution among the energy. Thus, can be wide variety of options available in terms of market and finances.