The New and Renewable Energy sector has gained widespread attention in of late. The renewable energy sources are crucial not only for achieving energy security but also for environmental sustainability. The globalization has lead with a rapid increase in the demand for the energy 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 coming 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 from the Ultra Mega Power Projects (UMPP). Today’s share of the potential 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 with a total installed capacity of around 310 GW. Thus, is actually no huge scope associated with this sector. Brand new has implemented various projects in the renewable energy sector with an emphasis on research and development, technical and financial support, public awareness and public-private sector synergy. The Ministry of New and Sustainable energy (MNRE) focuses in regards to the deployment of the projects and incentives through participation belonging to 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 inside the realization belonging to 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 listings. The other important factor is 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 MSME Registration Benefits in India are extendable into the community, in relation to job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship
Green Entrepreneurship is actually concerned with the innovative business aimed to address the matter of environmental concerns and offering in order to mitigate the associated problems. These businesses leverage the opportunities that exist inside of the 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.
Current Scenario
The renewable energy sector offers wide opportunity in comparison to its growth and environmental sustainability. There is however a wish to consider the evaluation and bench-marking criteria for the businesses in this industry. There is also a not enough cost effective strategy for the same each morning 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 people. The government, although, has developed policies for supporting the green entrepreneurship and has provided different incentives, but this support seems to be limited in the reach. This will allow limited indulgence with the businesses in the sector.
Opportunities
The acceptance and credibility of the business is a critical factor for good results of of a green entrepreneurship venture. There is plethora of opportunities in the various domains of the renewable energy niche. 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 from the renewable sector. Ought to are provided in terms of incubation centres and mentorship. Strategies also firms and investors available in the market, to lend support for the green business initiatives. The main focus is not only on the generation of the renewable energy, but it also encompasses the storage and distribution with the energy. Thus, there is wide variety of options available in terms of market and finances.