The New and Renewable Energy sector has gained widespread attention in of late. 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 on the demand for the vitality 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 development of the renewable energy sources, such as, solar energy, wind energy, bioenergy, geothermal energy, etc. Purpose is to promote the utilization on the renewable energy sources through the policy reforms, public-private partnership and development on the Ultra Mega Power Projects (UMPP). The current share of the particular renewable energy within energy mix stands close to 15%. The estimated sustainable 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 present in this sector. Federal 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 Secretary of state for New and Electricity (MNRE) focuses at 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 lead to delays as per the anticipated improvements. The other important factor will be attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and versatile regulatory norms. Its also crucial to ensure that the benefits are extendable for the community, in comparison to its job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship is actually 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 the actual environmental sector and deploy measures for that sustainable development for the society. The recent upthrust by brand new is enabling diverse opportunities for these entrepreneurs to gauge in the renewable 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 niche. There is also a lack of 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 storage space. This is further exaggerated through 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 may be limited in its reach. This allows for limited indulgence of this businesses in the sector.
The acceptance and credibility of the business is a critical factor for people today . of a green entrepreneurship venture. There is plethora of opportunities in the various domains of the renewable energy segment. 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 aid the entrepreneurship in the country, particularly MSME Udyog Aadhaar Registration in India the renewable sector. Benefits are provided conditions of of incubation centres and mentorship. Strategies also firms and investors available the actual planet 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 in the energy. Thus, there is wide variety of options available when it comes of market and finances.