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 together with a rapid increase a demand for techniques and there a good 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 belonging to the renewable energy sources through the policy reforms, public-private partnership and development on the Ultra Mega Power Projects (UMPP). Present share of probable renewable energy ultimately energy mix stands close to 15%. The estimated electrical power potential from commercially exploitable sources for India is around 900 GW with a total installed capacity of around 310 GW. Thus, there is huge scope used in 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 power (MNRE) focuses relating to 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 present 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 in order to use attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and flexible regulatory norms. It’s very also crucial to make that the benefits are extendable for the community, in regards to job opportunities, increased standard of living and environmental sustainability.
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 on environmental sector and deploy measures for your sustainable development of the society. The recent upthrust by brand new is enabling diverse opportunities for these entrepreneurs to gauge in the alternative energy sector.
The renewable energy sector offers wide opportunity in comparison to its growth and environmental sustainability. There is however a need to consider the evaluation and bench-marking criteria for the businesses in this area. There is also a not enough cost effective strategy for the same in the Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of storage space. This is further exaggerated together with 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 seems to be limited in its reach. This constructed of limited indulgence of this businesses in the sector.
The acceptance and credibility of the business is a critical factor for they’re of a green entrepreneurship venture. Actual plethora of opportunities MSME Udyog Aadhaar Registration in India 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 in the renewable sector. Ought to are provided with regards to of incubation centres and mentorship. There are also firms and investors available typically the market, to lend support for the green business initiatives. The focus is not only on the generation of the renewable energy, but it also encompasses the storage and distribution of this energy. Thus, an incredibly real wide variety of options available with regards to of market and finances.