The New and Renewable Energy sector has gained widespread attention in past few years. The renewable energy sources are crucial not really for achieving energy security but also for environmental sustainability. The globalization has lead into a rapid increase in the demand for techniques and there a great increased thrust on alteration of the present 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. The goal is to promote the utilization on 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 inside energy mix stands close to 15%. The estimated renewable energy 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. Federal government 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 Renewable energy (MNRE) focuses relating to the deployment of the projects and incentives through participation out of your 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 Udyog Aadhaar Registration in India 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 will be attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and versatile regulatory norms. It’s very also crucial certain that the benefits are extendable to the community, in terms of job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship 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 the sustainable development for this society. The recent upthrust by brand new is enabling diverse opportunities for these entrepreneurs to gauge in the electrical power sector.
The renewable energy sector offers wide opportunity in relation to its growth and environmental sustainability. There is however a will need to consider the evaluation and bench-marking criteria for the businesses in this industry. There is also a lack of cost effective strategy for the same a Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of dimensions. This is further exaggerated the particular lack of domain expertise and limited awareness and motivation among the guys. The government, although, has developed policies for supporting the green entrepreneurship and has provided different incentives, but this support may be limited in its reach. This will allow limited indulgence of the businesses in the sector.
The acceptance and credibility of small business 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 world. These domains include the solar power technology and installation, bio-fuel generation, bio-fertilizers, consulting services, and others. The government has initiated various programs to aid the entrepreneurship in the country, particularly in the renewable sector. Numerous are provided when it comes to of incubation centres and mentorship. There are also firms and investors available all of the market, to lend support for the green business initiatives. The focus is not only on the generation of the renewable energy, but furthermore, it encompasses the storage and distribution of this energy. Thus, an extremely wide variety of options available with regards to of market and finances.