The New and Renewable Energy sector has gained widespread attention in past few years. The renewable energy sources are crucial just for achieving energy security but also for environmental durability. The globalization has lead together with a rapid increase on the demand for the vitality 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 increase of 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 of the Ultra Mega Power Projects (UMPP). Online marketing share of the potential renewable energy regarding energy mix stands close to 15%. The estimated electrical power potential from commercially exploitable sources for India is around 900 GW having a total installed capacity of around 310 GW. Thus, actual huge scope present in this sector. Brand new has implemented various projects in the renewable energy sector with an focus on research and development, technical and financial support, public awareness and public-private sector synergy. The Ministry of New and Electrical power (MNRE) focuses at 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 belonging to 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 is to attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and versatile regulatory norms. Its also crucial to ensure that the benefits are extendable on the community, in relation to job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship
Green Entrepreneurship basically concerned with the innovative business aimed to address the matter of environmental concerns and offering MSME Registration Fees in India 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 federal government is enabling diverse opportunities for these entrepreneurs to gauge in the renewable energy sector.
Current Scenario
The renewable energy sector offers wide opportunity in relation 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 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 people. 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 its reach. This allows for limited indulgence from the businesses in the sector.
Opportunities
The acceptance and credibility of corporation is a critical factor for they’re of a green entrepreneurship venture. Hard work plethora of opportunities in the various domains of the renewable energy market place. These domains include the solar energy technology and installation, bio-fuel generation, bio-fertilizers, consulting services, et cetera. The government has initiated various programs to offer the entrepreneurship in the country, particularly on the inside renewable sector. Numerous are provided conditions of of incubation centres and mentorship. Many also firms and investors available in the market, to lend support for saving money business initiatives. The focus is not only on the generation of the renewable energy, but furthermore, it encompasses the storage and distribution of the energy. Thus, an incredibly real wide variety of options available on the subject of of market and finances.