Emerging Business Opportunities in the Renewable Energy Sector with India

The New and Renewable Energy sector has gained widespread attention in the recent past. The renewable energy sources are crucial not only for achieving energy security but also for environmental sustainability. The globalization has lead together with a rapid increase on the demand for power . and there is 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 for this renewable energy sources through the policy reforms, public-private partnership and development of this Ultra Mega Power Projects (UMPP). Present-day share of the particular 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, it comes with 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 Renewable power (MNRE) focuses at the deployment of the projects and incentives through participation out of your 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 MSME Registration Process in India the realization among 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 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. Its also crucial to ensure that the benefits are extendable into the community, in comparison to its job opportunities, increased standard of living and environmental sustainability.

Green Entrepreneurship

Green Entrepreneurship basically concerned with the innovative business aimed to address the issue 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 in the society. The recent upthrust by brand new is enabling diverse opportunities for these entrepreneurs to gauge in the renewable energy sector.

Current Scenario

The renewable energy sector offers wide opportunity in relation 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 sector. There is also a deficit of cost effective strategy for the same in the Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of functions. This is further exaggerated by the lack of domain expertise and limited awareness and motivation among the guys. 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 enables limited indulgence from the businesses in the sector.

Opportunities

The acceptance and credibility of the is a critical factor for people today . of a green entrepreneurship venture. Have to plethora of opportunities in the various domains of the renewable energy market place. These domains include the solar energy technology and installation, bio-fuel generation, bio-fertilizers, consulting services, and also so on. The government has initiated various programs to support the entrepreneurship in the country, particularly in the renewable sector. Significantly are provided when it comes to of incubation centres and mentorship. Many also firms and investors available the actual planet market, to lend support for saving money 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 of this energy. Thus, an incredibly real wide variety of options available phrases of of market and finances.