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 just for achieving energy security but also for environmental sustainability. The globalization has lead into a rapid increase on the demand for strength and there a good increased thrust on alteration of the existing 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. The aim 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). Today’s share of possible renewable energy within energy mix stands close to 15%. The estimated sustainable energy potential from commercially exploitable sources for India is around 900 GW having a total installed capacity of around 310 GW. Thus, it comes with huge scope used in this sector. Brand new 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 Electricity (MNRE) focuses relating 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 seen in the realization with the renewable energy mission in terms of credit risk, technical risk, policy risk and social factors, which may develop delays as per the anticipated listings. The other important factor will be attract new entrants in this sector by ensuring credible and genuine returns, expansion opportunity and flexible regulatory norms. Usually also crucial to ensure that the benefits are extendable for the community, MSME Udyog Aadhaar Registration in India regards to job opportunities, increased standard of living and environmental durability.

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 on 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 energy sector.

Current Scenario

The renewable energy sector offers wide opportunity in relation to growth and environmental sustainability. There is however a will need to consider the evaluation and bench-marking criteria for the businesses in this industry. 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 from your 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 has a tendency to be limited in the reach. This allows for limited indulgence of the businesses in the sector.

Opportunities

The acceptance and credibility of small business is a critical factor for the success of a green entrepreneurship venture. There is plethora of opportunities in 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, etc. The government has initiated various programs to aid the entrepreneurship in the country, particularly from the renewable sector. Benefits are provided when it comes to of incubation centres and mentorship. Strategies also firms and investors available in the market, to lend support for the green business initiatives. The focus is not only on the generation of the renewable energy, but it also encompasses the storage and distribution with the energy. Thus, an incredibly real wide variety of options available when it comes of market and finances.