The New and Renewable Energy sector has gained widespread attention in past few years. The renewable energy sources are crucial just for achieving energy security but also for environmental durability. The globalization has lead to a rapid increase in the demand for the vitality and there is 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 aim is to promote the utilization on the renewable energy sources through the policy reforms, public-private partnership and development for this Ultra Mega Power Projects (UMPP). Present share of probable renewable energy within 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 associated with this sector. The government has implemented various projects in 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 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 present in 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 results. The other important factor end up being attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and versatile regulatory norms. It is also crucial to ensure that the MSME Registration Benefits in India are extendable for the community, in relation to its job opportunities, increased standard of living and environmental durability.
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 inside of 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 renewable energy sector.
The renewable energy sector offers wide opportunity in relation to its growth and environmental sustainability. There is however a wish to consider the evaluation and bench-marking criteria for the businesses in this industry. There is also a not enough cost effective technique for the same all of the Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of capacity. This is further exaggerated the particular lack of domain expertise and limited awareness and motivation among the the public. 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 from the businesses in the sector.
The acceptance and credibility of small business is a critical factor for achievement of a green entrepreneurship venture. Actual plethora of opportunities in the various domains of the renewable energy market place. 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 retain the entrepreneurship in the country, particularly in the renewable sector. Numerous are provided in terms of incubation centres and mentorship. Lucrative also firms and investors available typically the market, to lend support for the green business initiatives. The main focus is not only on the generation of the renewable energy, but it also encompasses the storage and distribution among the energy. Thus, can be wide variety of options available in terms of market and finances.