The New and Renewable Energy sector has gained widespread attention in recent years. The renewable energy sources are crucial simply for achieving energy security but also for environmental durability. The globalization has lead into a rapid increase in the demand for techniques 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 development of 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-day share of possible renewable energy regarding energy mix stands close to 15%. The estimated electricity 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. Brand new 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 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 from the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may result in delays as per the anticipated results. The other important factor MSME Registration Process in India order to use attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and versatile regulatory norms. Usually also crucial to ensure that the benefits are extendable towards community, in regards to job opportunities, increased standard of living and environmental durability.
Green Entrepreneurship
Green Entrepreneurship fundamentally 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 world environmental sector and deploy measures for the sustainable development for this society. The recent upthrust by the government is enabling diverse opportunities for these entrepreneurs to gauge in the electrical power sector.
Current Scenario
The renewable energy sector offers wide opportunity in relation to its 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 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 capacity. This is further exaggerated from your 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 is able to be limited in the reach. This allows for limited indulgence of the businesses in the sector.
Opportunities
The acceptance and credibility of the business is a critical factor for achievement of a green entrepreneurship venture. There is 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, and also so on. The government has initiated various programs to offer the entrepreneurship in the country, particularly from the renewable sector. Numerous 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 what’s more, it encompasses the storage and distribution among the energy. Thus, there is wide variety of options available in terms of market and finances.