The New and Renewable Energy sector has gained widespread attention in the recent past. The renewable energy sources are crucial just for achieving energy security but also for environmental sustainability. The globalization has lead into a rapid increase in the demand for power . and there is definitely 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. Intention is to promote the utilization for the renewable energy sources through the policy reforms, public-private partnership and development on the Ultra Mega Power Projects (UMPP). Today’s share of possibilities renewable energy in the energy mix stands close to 15%. The estimated electricity potential from commercially exploitable sources for India is around 900 GW along with a total installed capacity of around 310 GW. Thus, it comes with huge scope specific to this sector. The government 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 Renewable energy (MNRE) focuses on 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 with the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may lead to delays as per the anticipated results. The other important factor will be attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and versatile regulatory norms. Its also crucial to make that the benefits are extendable into the community, in relation to job opportunities, increased standard of living and environmental durability.
Green Entrepreneurship is 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 the actual world environmental sector and deploy measures for the sustainable development in the society. The recent upthrust by brand new is enabling diverse opportunities for these entrepreneurs to gauge in the electricity sector.
The renewable energy sector offers wide opportunity in terms of growth and environmental sustainability. There is however a should really consider the evaluation and bench-marking criteria for the businesses SSI Online Registration in India this niche. There is also a not enough cost effective technique 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 by the 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 seems to be limited in its reach. This will allow limited indulgence of the businesses in the sector.
The acceptance and credibility of the is a critical factor for they’re of a green entrepreneurship venture. Irrespective of how 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 support the entrepreneurship in the country, particularly your renewable sector. Ought to are provided when it comes of incubation centres and mentorship. Strategies also firms and investors available within market, to lend support for the green business initiatives. The focus is not only on the generation of the renewable energy, but you’ll find it encompasses the storage and distribution of the energy. Thus, can be certainly wide variety of options available in terms of market and finances.