Emerging Business Opportunities in the Renewable Energy Sector using India

The New and Renewable Energy sector has gained widespread attention in recent times. The renewable energy sources are crucial not really 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 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. Purpose is to promote the utilization for the renewable energy sources through the policy reforms, public-private partnership and development for this Ultra Mega Power Projects (UMPP). Present share of the potential renewable energy inside energy mix stands close to 15%. The estimated renewable energy potential from commercially exploitable sources for India is around 900 GW having a total installed capacity of around 310 GW. Thus, is actually an huge scope present in this sector. The government has implemented various projects in the renewable energy sector with an focus research and development, technical and financial support, public awareness and public-private sector synergy. The Ministry of New and Electrical power (MNRE) focuses in regards to the deployment of the projects and incentives through participation at a 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 of the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may produced delays as per the anticipated results. The other important factor is to attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and flexible regulatory norms. Its also crucial to make that the benefits are extendable to the community, in relation to its job opportunities, increased standard of living and environmental durability.

Green Entrepreneurship

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

Current Scenario

The renewable energy sector offers wide opportunity in regards to growth and environmental sustainability. There is however a should really 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 through lack of domain expertise and limited awareness and motivation among the travelers. 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 from the businesses in the sector.

Opportunities

The acceptance and credibility of small business is a critical factor for people today . of a green entrepreneurship venture. Actual plethora of opportunities in the various domains of the renewable energy market place. These domains include the power technology and installation, bio-fuel generation, bio-fertilizers, consulting services, etc. The government has initiated various programs to secure the entrepreneurship Online MSME Registration Form in India the country, particularly from the renewable sector. Significantly are provided when it comes to 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 of the energy. Thus, an incredibly real wide variety of options available on the subject of of market and finances.