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Emerging Business Opportunities in the most important Renewable Energy Sector in India

The New and Renewable Energy sector has gained widespread attention in recent times. The renewable energy sources are crucial just for achieving energy security but also for environmental sustainability. The globalization has lead to a rapid increase in the demand for power . 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. Intention 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). Today’s share of the potential renewable energy in the energy mix stands close to 15%. The estimated electricity potential from commercially exploitable sources for India is around 900 GW by using a total installed capacity of around 310 GW. Thus, is actually an huge scope specific to this sector. Federal government has implemented various projects in 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 Renewable energy (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 associated with 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 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’s very also crucial to ensure that the benefits are extendable towards community, in comparison to its job opportunities, increased standard of living and environmental durability.

Green Entrepreneurship

Green Entrepreneurship is actually concerned with the innovative business aimed to address the matter of environmental concerns and offering in order to mitigate the associated problems. These businesses leverage the opportunities that exist the actual environmental sector and deploy measures for the sustainable development in the society. The recent upthrust by the government is enabling diverse opportunities for these entrepreneurs to gauge in the renewable power sector.

Current Scenario

The renewable energy sector offers wide opportunity in relation to its growth and environmental sustainability. There is however a require to consider the evaluation and bench-marking criteria for the businesses MSME Registration Certificate in India this sector. There is also a deficit of cost effective technique for the same in the Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of dimensions. 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 has a tendency to be limited in the reach. This constructed of limited indulgence of this businesses in the sector.

Opportunities

The acceptance and credibility of corporation 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 world. These domains include the power technology and installation, bio-fuel generation, bio-fertilizers, consulting services, et cetera. The government has initiated various programs to support the entrepreneurship in the country, particularly in the renewable sector. Ought to are provided conditions of of incubation centres and mentorship. Lucrative 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 you’ll find it encompasses the storage and distribution in the energy. Thus, there is wide variety of options available in terms of market and finances.