The New and Renewable Energy sector has gained widespread attention in recent years. The renewable energy sources are crucial not really for achieving energy security but also for environmental durability. The globalization has lead to a rapid increase your demand for strength and there is an increased thrust on alteration of the existing 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. Intention is to promote the utilization for the renewable energy sources through the policy reforms, public-private partnership and development of the Ultra Mega Power Projects (UMPP). Present-day share of the particular renewable energy ultimately energy mix stands close to 15%. The estimated sustainable energy potential from commercially exploitable sources for India is around 900 GW by using a total installed capacity of around 310 GW. Thus, is actually an huge scope used in 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 power (MNRE) focuses relating 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 seen in the realization from 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 improvements. 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. Its also crucial to ensure that the benefits are extendable on the community, MSME Registration Fees in India terms of job opportunities, increased standard of living and environmental sustainability.
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 inside of the environmental sector and deploy measures for that sustainable development for the society. The recent upthrust by federal government is enabling diverse opportunities for these entrepreneurs to gauge in the alternative energy sector.
Current Scenario
The renewable energy sector offers wide opportunity in terms of growth and environmental sustainability. There is however a wish to consider the evaluation and bench-marking criteria for the businesses in this area. There is also a associated with cost effective strategy for the same all of the Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of capacity. This is further exaggerated from your lack of domain expertise and limited awareness and motivation among the the public. 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 enables limited indulgence of your businesses in the sector.
Opportunities
The acceptance and credibility of the business is a critical factor for achievement of a green entrepreneurship venture. There is plethora of opportunities in the various domains of the renewable energy world. These domains include the power technology and installation, bio-fuel generation, bio-fertilizers, consulting services, et cetera. The government has initiated various programs to support the entrepreneurship in the country, particularly on the inside renewable sector. Numerous are provided when it comes of incubation centres and mentorship. There are also firms and investors available in the market, to lend support for the green business initiatives. The focus is not only on the generation of the renewable energy, but additionally, it encompasses the storage and distribution of the energy. Thus, there is wide variety of options available when it comes of market and finances.