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 power . 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. The goal is to promote the utilization belonging to the renewable energy sources through the policy reforms, public-private partnership and development from the Ultra Mega Power Projects (UMPP). The current share of possibilities renewable energy ultimately energy mix stands close to 15%. The estimated sustainable energy 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 present in this sector. Federal government has implemented various projects in the renewable energy sector with an concentrate on research and development, technical and financial support, public awareness and public-private sector synergy. The Secretary of state for New and Sustainable energy (MNRE) focuses in regards 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 associated with the realization belonging to the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may develop delays as per the anticipated results. The other important factor end up being attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and flexible regulatory norms. It’s very also crucial to ensure that the benefits are extendable into the community, in relation to its job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship
Green Entrepreneurship basically concerned with the innovative business aimed to address concern 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 that sustainable development of the society. The recent upthrust by federal government is enabling diverse opportunities for these entrepreneurs to gauge SSI Online Registration 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 will need to consider the evaluation and bench-marking criteria for the businesses in this category. There is also a not enough cost effective technique for the same on 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 guys. The government, although, has developed policies for supporting the green entrepreneurship and has provided different incentives, but this support has a tendency to be limited in the reach. This permits limited indulgence with the businesses in the sector.
Opportunities
The acceptance and credibility of business is a critical factor for they’re 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, numerous. The government has initiated various programs to support the entrepreneurship in the country, particularly the particular renewable sector. Ought to are provided with regards to of incubation centres and mentorship. Strategies also firms and investors available within market, to lend support for saving money business initiatives. The main focus is not only on the generation of the renewable energy, but what’s more, it encompasses the storage and distribution in the energy. Thus, can be certainly wide variety of options available with regards to of market and finances.