The New and Renewable Energy sector has gained widespread attention in recent years. The renewable energy sources are crucial also for achieving energy security but also for environmental sustainability. The globalization has lead into 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 increase of the renewable energy sources, such as, solar energy, wind energy, bioenergy, geothermal energy, etc. Purpose is to promote the utilization belonging to the renewable energy sources through the policy reforms, public-private partnership and development for this Ultra Mega Power Projects (UMPP). The current share of possible renewable energy in the energy mix stands close to 15%. The estimated electricity potential from commercially exploitable sources for India is around 900 GW having a total installed capacity of around 310 GW. Thus, it comes with huge scope specific to this sector. The 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 Secretary of state for New and Electrical power (MNRE) focuses within 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 within the realization with 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 in order to use 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 for the community, in relation to job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship basically concerned with the innovative business aimed to address concern 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 that sustainable development of the society. The recent upthrust by federal government is enabling diverse opportunities for these entrepreneurs to gauge in the renewable energy sector.
The renewable energy sector offers wide opportunity in comparison to its growth and environmental sustainability. There is however a will need to consider the evaluation and bench-marking criteria for the businesses MSME Registration in India Online this area. There is also a deficit of cost effective technique for the same in the Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of storage space. This is further exaggerated together with lack of domain expertise and limited awareness and motivation among the travelers. The government, although, has developed policies for supporting the green entrepreneurship and has provided different incentives, but this support may be limited in the reach. This constructed of limited indulgence with the businesses in the sector.
The acceptance and credibility of small business is a critical factor for achievement of a green entrepreneurship venture. Hard work plethora of opportunities in the various domains of the renewable energy market place. These domains include the power 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. Benefits are provided in terms of incubation centres and mentorship. There are 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 you’ll find it encompasses the storage and distribution of the energy. Thus, can be certainly wide variety of options available on the subject of of market and finances.