Emerging Business Opportunities in the Renewable Energy Sector for India

The New and Renewable Energy sector has gained widespread attention in recent years. The renewable energy sources are crucial simply for achieving energy security but also for environmental sustainability. The globalization has lead with a rapid increase a demand for the vitality and there a great increased thrust on alteration of the present energy mix. In India, the government has implemented various initiatives for the promotion and reduce 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). Present-day share of possible renewable energy in the 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 present in this sector. Brand new has implemented various projects in the renewable energy sector with an focus on research and development, technical and financial support, public awareness and public-private sector synergy. The Ministry of New and Renewable power (MNRE) focuses on 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 inside the realization from the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may produced delays as per the anticipated good results. The other important factor is attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and flexible regulatory norms. It’s very also crucial specific that the benefits are extendable towards community, in relation to its job opportunities, increased standard of living and environmental sustainability.

Green Entrepreneurship

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

Current Scenario

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 area. There is also a associated with cost effective technique for the same each morning Indian scenario. The enterprises are marred by high initial costs and computation methods for the estimation of dimensions. This is further exaggerated by the 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 permits limited indulgence of this businesses in the sector.

Opportunities

The acceptance and credibility of corporation is a critical factor for achievement of a green entrepreneurship venture. Irrespective of how plethora of opportunities MSME Udyog Aadhar Registration in India 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 also so on. The government has initiated various programs to support the entrepreneurship in the country, particularly the particular renewable sector. Ought to are provided with regards to of incubation centres and mentorship. Strategies also firms and investors available within market, to lend support for the green business initiatives. The focus is not only on the generation of the renewable energy, but furthermore, it encompasses the storage and distribution of the energy. Thus, an incredibly real wide variety of options available in terms of market and finances.