The New and Renewable Energy sector has gained widespread attention in of late. The renewable energy sources are crucial also for achieving energy security but also for environmental durability. The globalization has lead to be able to rapid increase on the 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 improvement 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 on the Ultra Mega Power Projects (UMPP). Today’s 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 using a total installed capacity of around 310 GW. Thus, it comes with huge scope available in this sector. The government has implemented various projects in the renewable energy sector with an concentrate on research and development, technical and financial support, public awareness and public-private sector synergy. The Ministry of Udyog Aadhar New Registration in India and Electrical power (MNRE) focuses relating to the deployment of the projects and incentives through participation out of your 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 within the realization from the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may end up in 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 ensure that the benefits are extendable for the community, in terms of job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship basically concerned with the innovative business aimed to address the issue of environmental concerns and offering solutions to mitigate the associated problems. These businesses leverage the opportunities that exist in the environmental sector and deploy measures for that sustainable development of your society. The recent upthrust by federal government is enabling diverse opportunities for these entrepreneurs to gauge in the renewable power sector.
The renewable energy sector offers wide opportunity in terms of growth and environmental sustainability. There is however a require 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 on 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 travelers. The government, although, has developed policies for supporting the green entrepreneurship and has provided different incentives, but this support is able to be limited in the reach. This constructed of limited indulgence of the businesses in the sector.
The acceptance and credibility of the business is a critical factor for the success of a green entrepreneurship venture. Have to plethora of opportunities in the various domains of the renewable energy sector. These domains include the power technology and installation, bio-fuel generation, bio-fertilizers, consulting services, etc. The government has initiated various programs to support the entrepreneurship in the country, particularly your renewable sector. Significantly are provided conditions of of incubation centres and mentorship. You will also firms and investors available all of the market, to lend support for the green business initiatives. The main focus is not only on the generation of the renewable energy, but furthermore, it encompasses the storage and distribution in the energy. Thus, an extremely wide variety of options available when it comes of market and finances.