The New and Renewable Energy sector has gained widespread attention in recent years. The renewable energy sources are crucial also for achieving energy security but also for environmental sustainability. The globalization has lead together with a rapid increase in the demand for techniques 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 coming of the renewable energy sources, such as, solar energy, wind energy, bioenergy, geothermal energy, etc. The aim is to promote the utilization for this renewable energy sources through the policy reforms, public-private partnership and development of the Ultra Mega Power Projects (UMPP). The current share of the particular renewable energy in the energy mix stands close to 15%. The estimated electrical power potential from commercially exploitable sources for India is around 900 GW having a total installed capacity of around 310 GW. Thus, it comes with huge scope present in this sector. Federal government has implemented various projects MSME Registration Fees in India the renewable energy sector with an emphasis on research and development, technical and financial support, public awareness and public-private sector synergy. The Ministry of 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 within the realization belonging to the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may end up in delays as per the anticipated listings. The other important factor in order to use attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and flexible regulatory norms. Usually also crucial to make that the benefits are extendable into the community, in regards to job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship basically concerned with the innovative business aimed to address the issue of environmental concerns and offering in order to mitigate the associated problems. These businesses leverage the opportunities that exist inside of the environmental sector and deploy measures for your sustainable development in the society. The recent upthrust by the 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 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 on Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of capacity. This is further exaggerated through 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 its reach. This allows for limited indulgence of this businesses in the sector.
The acceptance and credibility of business is a critical factor for they’re of a green entrepreneurship venture. Irrespective of how plethora of opportunities in the various domains of the renewable energy sector. These domains include the power technology and installation, bio-fuel generation, bio-fertilizers, consulting services, etc. The government has initiated various programs to retain the entrepreneurship in the country, particularly in the renewable sector. Benefits are provided when it comes of incubation centres and mentorship. You will also firms and investors available in the market, to lend support for saving money business initiatives. The focus is not only on the generation of the renewable energy, but furthermore, it encompasses the storage and distribution in the energy. Thus, can be wide variety of options available in terms of market and finances.