Expanding Business Opportunities in the Renewable Energy Sector using India

The New and Renewable Energy sector has gained widespread attention in past few years. The renewable energy sources are crucial also for achieving energy security but also for environmental sustainability. The globalization has lead together with a rapid increase a 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 development of the renewable energy sources, such as, solar energy, wind energy, bioenergy, geothermal energy, etc. Intention is to promote the utilization for this renewable energy sources through the policy reforms, public-private partnership and development of the Ultra Mega Power Projects (UMPP). SSI Online Application in India marketing share of possibilities renewable energy in the energy mix stands close to 15%. The estimated alternative 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. 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 Secretary of state for New and Renewable energy (MNRE) focuses relating to the deployment of the projects and incentives through participation from 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 within the realization from the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may develop delays as per the anticipated results. The other important factor is attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and flexible regulatory norms. Every person also crucial to ensure that the benefits are extendable towards community, in terms of job opportunities, increased standard of living and environmental durability.

Green Entrepreneurship

Green Entrepreneurship fundamentally 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 in the environmental sector and deploy measures for your sustainable development of your society. The recent upthrust by brand new is enabling diverse opportunities for these entrepreneurs to gauge in the renewable power sector.

Current Scenario

The renewable energy sector offers wide opportunity in comparison 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 lack of 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 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 the reach. This constructed of limited indulgence of your businesses in the sector.

Opportunities

The acceptance and credibility of the 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 segment. These domains include the solar power technology and installation, bio-fuel generation, bio-fertilizers, consulting services, etc. The government has initiated various programs to offer the entrepreneurship in the country, particularly the particular renewable sector. Significantly are provided conditions of of incubation centres and mentorship. Lucrative also firms and investors available typically the market, to lend support for saving money business initiatives. The focus is not only on the generation of the renewable energy, but what’s more, it encompasses the storage and distribution of the energy. Thus, can be certainly wide variety of options available phrases of of market and finances.