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 with a rapid increase in the demand for the vitality and there is an increased thrust on alteration of the present 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. The goal is to promote the utilization belonging to the renewable energy sources through the policy reforms, public-private partnership and development of this Ultra Mega Power Projects (UMPP). The current share of the particular renewable energy inside energy mix stands close to 15%. The estimated alternative energy potential from commercially exploitable sources for India is around 900 GW having a total installed capacity of around 310 GW. Thus, is actually no huge scope present in 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 Electricity (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 within the realization with the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may produced delays as per the anticipated good results. The other important factor is attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and flexible regulatory norms. It is also crucial to ensure that the benefits are extendable for the community, in relation to job opportunities, increased standard of living and environmental durability.
Green Entrepreneurship
Green Entrepreneurship is actually concerned with the innovative business aimed to address problem of environmental concerns and offering solutions to mitigate the associated problems. These businesses leverage the opportunities that exist in the environmental sector and deploy measures for your sustainable development for this society. The recent upthrust by federal government is enabling diverse opportunities for these entrepreneurs to gauge SSI Online Application in India the alternative energy sector.
Current Scenario
The renewable energy sector offers wide opportunity in regards to growth and environmental sustainability. There is however a require to consider the evaluation and bench-marking criteria for the businesses in this area. There is also a deficit of 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 dimensions. This is further exaggerated through 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 is able to be limited in the reach. This permits limited indulgence of this businesses in the sector.
Opportunities
The acceptance and credibility of corporation is a critical factor for achievement of a green entrepreneurship venture. There is plethora of opportunities in the various domains of the renewable energy segment. These domains include the solar power technology and installation, bio-fuel generation, bio-fertilizers, consulting services, etc. The government has initiated various programs to support the entrepreneurship in the country, particularly your renewable sector. Significantly are provided when it comes of incubation centres and mentorship. Lucrative 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 you’ll find it encompasses the storage and distribution in the energy. Thus, can be wide variety of options available on the subject of of market and finances.