The New and Renewable Energy sector has gained widespread attention in the recent past. The renewable energy sources are crucial just for achieving energy security but also for environmental durability. The globalization has lead with a rapid increase the particular demand for power . and there a great 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. The goal is to promote the utilization on the renewable energy sources through the policy reforms, public-private partnership and development of the Ultra Mega Power Projects (UMPP). Today’s share of the particular renewable energy inside energy mix stands close to 15%. The estimated electrical power potential from commercially exploitable sources for India is around 900 GW using a total installed capacity of around 310 GW. Thus, there is huge scope specific to this sector. The government has implemented various projects in the renewable energy sector with an focus research and development, technical and financial support, public awareness and public-private sector synergy. The Secretary of state for New and Renewable energy (MNRE) focuses at the deployment of the projects and incentives through participation throughout 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 associated with the realization belonging to 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 listings. The other important factor in order to use 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 for the community, in regards to job opportunities, increased standard of living and environmental durability.
Green Entrepreneurship
Green Entrepreneurship basically concerned with the innovative business aimed to address problem of environmental concerns and offering in order to mitigate the associated problems. These businesses leverage the opportunities that exist on environmental sector and deploy measures for the sustainable development in the society. The recent upthrust by federal government is enabling diverse opportunities for these entrepreneurs to gauge in the renewable power sector.
Current Scenario
The renewable energy sector offers wide opportunity in comparison to its growth and environmental sustainability. There is however a need to consider the evaluation and bench-marking criteria for the businesses in this sector. There is also a not enough 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 capacity. This is further exaggerated through 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 is able to be limited Online Udyog Aadhaar Registration In India the reach. This permits limited indulgence from the businesses in the sector.
Opportunities
The acceptance and credibility of the business is a critical factor for the success of a green entrepreneurship venture. Have to plethora of opportunities in the various domains of the renewable energy sector. These domains include the solar 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. Significantly 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 main focus is not only on the generation of the renewable energy, but additionally, it encompasses the storage and distribution among the energy. Thus, can be wide variety of options available when it comes of market and finances.