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 to be able to rapid increase on the demand for techniques and there is actually definitely 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. Purpose is to promote the utilization of the renewable energy sources through the policy reforms, public-private partnership and development from the Ultra Mega Power Projects (UMPP). Present share of possible renewable energy ultimately energy mix stands close to 15%. The estimated electrical power potential from commercially exploitable sources for India is around 900 GW along with a total installed capacity of around 310 GW. Thus, is actually an huge scope present in this sector. The government has implemented various projects in the renewable energy sector with an increased exposure of research and development, technical and financial support, Udyog Aadhar Registration Online 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 within the realization among the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may develop delays as per the anticipated good results. The other important factor will be attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and flexible regulatory norms. Every person also crucial certain that the benefits are extendable for the community, in comparison to its job opportunities, increased standard of living and environmental durability.
Green Entrepreneurship is actually concerned with the innovative business aimed to address the issue of environmental concerns and offering in order 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 the government is enabling diverse opportunities for these entrepreneurs to gauge in the alternative 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 in this industry. 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 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 its reach. This allows for limited indulgence of the businesses in the sector.
The acceptance and credibility of business is a critical factor for achievement of a green entrepreneurship venture. Have to plethora of opportunities in the various domains of the renewable energy market place. These domains include the solar energy 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. Benefits are provided when it comes of incubation centres and mentorship. Strategies 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 additionally, it encompasses the storage and distribution among the energy. Thus, an incredibly real wide variety of options available in terms of market and finances.