The New and Renewable Energy sector has gained widespread attention in recent times. The renewable energy sources are crucial simply for achieving energy security but also for environmental sustainability. The globalization has lead to a rapid increase on the demand for techniques and there is definitely an increased thrust on alteration of the present energy mix. In India, the government has implemented various initiatives for the promotion and improvement the renewable energy sources, such as, solar energy, wind energy, bioenergy, geothermal energy, etc. The goal is to promote the utilization for the renewable energy sources through the policy reforms, public-private partnership and development on the Ultra Mega Power Projects (UMPP). Today’s share of probable renewable energy regarding energy mix stands close to 15%. The estimated alternative energy potential from commercially exploitable sources for India is around 900 GW having a total installed capacity of around 310 GW. Thus, actual huge scope specific to 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, public awareness and public-private sector synergy. The Ministry of New and Sustainable energy (MNRE) focuses relating to 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 within the realization belonging to the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may result in delays as per the anticipated results. The other important factor end up being attract new entrants SSI Online Application in India 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 on the community, in regards to job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship is basically concerned with the innovative business aimed to address the problem of environmental concerns and offering solutions to mitigate the associated problems. These businesses leverage the opportunities that exist in the environmental sector and deploy measures for the sustainable development for this society. The recent upthrust by brand new is enabling diverse opportunities for these entrepreneurs to gauge in the electricity sector.
The renewable energy sector offers wide opportunity in terms of growth and environmental sustainability. There is however a need to consider the evaluation and bench-marking criteria for the businesses in this category. There is also a associated with 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 dimensions. This is further exaggerated together with lack of domain expertise and limited awareness and motivation among the customers. The government, although, has developed policies for supporting the green entrepreneurship and has provided different incentives, but this support seems to be limited in its reach. This will allow limited indulgence of this businesses in the sector.
The acceptance and credibility of the business is a critical factor for the success of a green entrepreneurship venture. Actual plethora of opportunities in the various domains of the renewable energy world. These domains include the solar energy technology and installation, bio-fuel generation, bio-fertilizers, consulting services, et cetera. The government has initiated various programs to aid the entrepreneurship in the country, particularly in the renewable sector. Significantly are provided when it comes of incubation centres and mentorship. Lucrative also firms and investors available within market, to lend support for the green 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 among the energy. Thus, an incredibly real wide variety of options available when it comes of market and finances.