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 sustainability. The globalization has lead to a rapid increase a demand for the energy and there a good 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. Intention is to promote the utilization on the renewable energy sources through the policy reforms, public-private partnership and development from the Ultra Mega Power Projects (UMPP). Present share of probable 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, there is huge scope specific to this sector. Brand new 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 Ministry of New and Renewable energy (MNRE) focuses within the deployment of the projects and incentives through participation throughout 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 seen Udyog Aadhaar MSME Registration in India the realization belonging to the renewable energy mission in 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 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 for the community, in regards to job opportunities, increased standard of living and environmental sustainability.
Green Entrepreneurship is actually 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 for the society. The recent upthrust by federal government 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 need to consider the evaluation and bench-marking criteria for the businesses in this niche. There is also a associated with cost effective strategy 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 customers. The government, although, has developed policies for supporting the green entrepreneurship and has provided different incentives, but this support has a tendency to be limited in its reach. This constructed of limited indulgence of this businesses in the sector.
The acceptance and credibility of the 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 niche. These domains include the 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. Significantly are provided with regards to of incubation centres and mentorship. Lucrative also firms and investors available within 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 among the energy. Thus, can be certainly wide variety of options available with regards to of market and finances.