The New and Renewable Energy sector has gained widespread attention in recent 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 the particular demand for the vitality and there is definitely 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. Purpose is to promote the utilization of the renewable energy sources through the policy reforms, public-private partnership and development of this Ultra Mega Power Projects (UMPP). Online marketing share of possible renewable energy ultimately energy mix stands close to 15%. The estimated renewable energy potential from commercially exploitable sources for India is around 900 GW along with a total installed capacity of around 310 GW. Thus, there is huge scope available in this sector. Federal 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 Electrical power (MNRE) focuses relating to the deployment of the projects and incentives through participation at a 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 from the renewable energy mission MSME Registration Process in India terms of credit risk, technical risk, policy risk and social factors, which may result in delays as per the anticipated improvements. The other important factor is to attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and flexible regulatory norms. It is also crucial certain that the benefits are extendable on the community, in relation to its job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship is essentially concerned with the innovative business aimed to address 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 the society. The recent upthrust by federal government is enabling diverse opportunities for these entrepreneurs to gauge in the electricity sector.
The renewable energy sector offers wide opportunity in regards to 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 deficit of cost effective strategy for the same each morning Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of capacity. This is further exaggerated by the 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 seems to be limited in the reach. This permits limited indulgence of this businesses in the sector.
The acceptance and credibility of the business is a critical factor for good results of 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, and others. The government has initiated various programs to secure the entrepreneurship in the country, particularly from the renewable sector. Benefits are provided when it comes to of incubation centres and mentorship. Many also firms and investors available in the market, to lend support for the green business initiatives. The 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, can be certainly wide variety of options available on the subject of of market and finances.