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 sustainability. The globalization has lead with a rapid increase on the demand for the energy 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 increase of 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 from the Ultra Mega Power Projects (UMPP). Today’s share of possible renewable energy regarding energy mix stands close to 15%. The estimated sustainable energy potential from commercially exploitable sources for India is around 900 GW using a total installed capacity of around 310 GW. Thus, it comes with huge scope associated with this sector. Brand new has implemented various projects Aadhar Udyog Registration Online in India the renewable energy sector with an concentrate on 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 in regards to 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 inside 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 is to 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 into the community, in relation to job opportunities, increased standard of living and environmental durability.
Green Entrepreneurship fundamentally 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 in 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 alternative energy sector.
The renewable energy sector offers wide opportunity in relation to growth and environmental sustainability. There is however a should really consider the evaluation and bench-marking criteria for the businesses in this category. There is also a connected 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 capacity. This is further exaggerated together with lack of domain expertise and limited awareness and motivation among the people. The government, although, has developed policies for supporting the green entrepreneurship and has provided different incentives, but this support it seems to be limited in the reach. This permits limited indulgence with the businesses in the sector.
The acceptance and credibility of business is a critical factor for achievement of a green entrepreneurship venture. Irrespective of how plethora of opportunities in the various domains of the renewable energy sector. These domains include the solar energy technology and installation, bio-fuel generation, bio-fertilizers, consulting services, numerous. The government has initiated various programs to offer the entrepreneurship in the country, particularly from the renewable sector. Significantly are provided with regards to of incubation centres and mentorship. Many 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 additionally, it encompasses the storage and distribution of this energy. Thus, can be wide variety of options available in terms of market and finances.