Renewable Energy Assignment Proposal: How To Raise Venture Capital
Task: Which factors will enhance Renewable Energy Production Equipment Development?
The renewable energy assignment will explore renewable energy solutions that can be adopted within the public and private sectors to cope with the rising energy demands. Most developing global economies are experiencing an energy crunch with most experiencing serious electricity cuts and rationing, which leads to serious problems for the consumer. This rising demand for energy discussed in this renewable energy assignment will focus mainly on the domestic and small consumer. The high demand has also resulted in the industry growing to be a very attractive investment opportunity with prospects of delivering huge profits to the investors.
As the global population increases and individual consumption of energy increases, most energy grids cannot keep up with the demand and supply. It results in many industrial developing nations like India experiencing crunching energy deficits, resulting in the consumer remaining without power for many hours a day (Brebbia, Magaril, & Khodorovsky, 2014). The renewable energy assignment identifies a rising demand for renewable energy which has resulted in making many invest on private energy backup solutions like generators and battery inverters, but these too only provide a limited amount of energy back up. The constant electrical shortage has ultimately resulted in the consumer seeking alternative energy production solutions to help deliver constant energy for certain components and appliances. With most homes already having battery inverters backup systems, this renewable energy assignment focuses on identifying, developing, and delivering energy production systems that are not reliant on the energy grid to recharge the backup inverter batteries.
Problem and opportunity identified in this renewable energy assignment
The renewable energy assignment focuses on India’s rising deficits of energy supply. India currently experiences a major shortage of electrical energy supply, and while the majority of homes and offices have invested battery inverters, they still remain reliant on the main power to recharge the batteries. It limits the backup systems to 3-4 hours back up using low load appliances, thus creating demand for alternative recharging solutions. It has resulted in major advances being made in solar and wind energy generation systems, which can replenish the inverter battery energy even when there is a long power cut. Most complaints related to energy deficiency identified in this renewable energy assignment fall during the summer months; solar recharging units have been identified as a viable alternative (Tomes & Songstad, 2010). In addition to solar energy communities living in windy areas can also add an additional wind energy generator to deliver unlimited energy production for battery recharging.
Renewable energy assignment Project Objectives
The renewable energy assignment focuses on identifying and reporting affordable and high-quality electrical recharging solutions, ensuring the battery backup system remains recharged and delivers long-term use. The recharging units also require to utilize different energy sources, which can be combined to continually recharge the inverter batteries and ensure the batteries remain fully charged at all times. The alternative energy recharging units must also utilize different forms of renewable energy like wind and solar and also recharge from the main supply, thus delivering unlimited energy to keep the batteries recharged at all times.
Utilization of human/ natural resources
The renewable energy assignment proposes investment in solar and wind energy and engineers need to design efficient instruments which can monitor solar and wind charging units that can be mounted on homes, balconies and rooftops without requiring specialized permission. The equipment would also be solely dependent on naturally occurring sources of energy such as wind and solar, thus delivering an unlimited supply of clean energy for energy production. With the energy required to drive the electrical generators for free, the funding would be required to invest in research, technology, and tools to develop the energy production equipment. The renewable energy assignment project would require investments to be made on the infrastructure to be used to develop the energy solution machinery and equipment. In addition to the development of equipment and service parts, there is also the requirement for marketing and the creation of customer awareness regarding the new energy production solutions. Solar and wind energy production is not very well understood concepts among the Indian consumer and its vital to provide a practical demonstration of how the technology works. In this renewable energy assignment, the consumer is only likely to develop a high level of confidence when they are willing to invest in technology and gradually develop the brand reputation and market.
Project Scheduling as per the Renewable energy assignment
Solar and wind harvesting technologies already exist, making it easier for the company to collaborate and use existing technologies and products that would help reduce the product developed time frame. It is very important since it will considerably reduce the project estimated establishment timeframe, but it’s still important to use these components within its own product brand. It would ensure fast development, reduced investment on infrastructure and equipment and the development of a final product bearing the businesses brand name. The first line of solar and wind energy solution proposed in the renewable energy assignment is expected to be within 6 months of the project's initiative to deliver adequate time for products design, development and testing before its release to the market.
Project Budget as per the Renewable energy assignment
With the demand for alternative energy recharging solutions on the rise across all developing markets, it’s important to consider developing a product and establishing international distribution channel. It is important to allow customers from foreign countries to also place their orders for the energy production units, which will expose the brand to the international consumer. The renewable energy assignment project will require an establishment capital of 95 Crore to facilitate the project establishment, research, product development and distribution within the domestic and international market. Its funds will also be important for the capital and expenses the organization will incur during the initial month when the product is still under development. The funding would be required in three equal portions to facilitate the projects initiation and research, the second towards the product development and manufacture and the third towards marketing and distribution of the product in the consumer market. The renewable energy assignment project funding will be broken into three sections allowing for better utilization and use of the funds and also provide the project to prove its capability to achieve set objectives and goals to the investors and funders. It would also give the project an opportunity to approach private investors who may also show interest towards the project and provide a section of funding through the sale of share thus reducing the loan burden on the new product and brand.
Project Monitoring and Measurement as per the Renewable energy assignment
The renewable energy assignment project will require close monitoring to ensure the project registers success and is achieving the required goals. To ensure the energy harvesting project remains on track, strict monitoring apparatus will be developed to monitor the projects progress during establishment as well as after launch. It will help provide statistics linked to the project performance and provide important data statistics that can help develop suitable approaches linked to the expansion and success of the project. The renewable energy assignment Project performance will be monitored using specially developed time tables and computer programs which will assist with creating simulations that can be used to identify suitable approaches lined to the businesses goal objectives. The data and statistic can also be used later to allow the company to develop suitable approaches linked to product modification and customer expectations, which can be used to deliver the best development and reporting results.
Innovation and Future Energy Production Technologies
A brand is only termed as successful if it constantly develops new products that meet the consumers’ needs, thus making innovation and major ingredient towards success. The renewable energy assignment Product development would therefore require constant focus towards delivering improvements to the consumer with regard to higher energy yield as less cost. It would require for the inventor and other technologies to compactly be upgraded to deliver the very best product efficacy.
It's also important to consider alternative energy sources that can be harvested at no cost, such as biogas (Wellinger, Murphy, & Baxter, 2013). Although biogas is an energy that may only be feasible in rural places, technologies have developed, which have greatly improved biogas production efficiency. It has resulted in the development of miniaturized digesters which convert organic kitchen waste into methane which can be used on the house gas burners very efficiently. It is another important energy source identified in this renewable energy assignment that requires being exploited to deliver free energy to the consumer from their organic kitchen waste. It would also serve the purpose by reducing energy consumption cost as well as reduced pressure on the natural gas agencies.
Green energy production has grown to be an important global topic, but the possibility of generating energy from free and renewable energy sources is something each person requires. It is especially experienced in developing nations where energy is being diverted towards industry, leaving homes and small businesses without electrical energy for hours each day (Mulvaney, 2011). With this problem identified in this renewable energy assignment unlikely to be resolved in the near future as more pressure mounts on the power grid, independent energy production has grown to be the next most important priority for the residents. With this in mind, many have already invested in small power back up system that is limited to a few hours but offering an unlimited supply of back up energy is destined to attract considerable attention and favour among most energy consumers globally. The renewable energy assignment has helped identify and propose suitable energy generation solution but will require public, corporate and private investor involvement to reduce energy deficits in future.
Brebbia, C., Magaril, E., & Khodorovsky, M. (2014). Energy Production and Management in the 21st Century: The Quest for Sustainable Energy. Boston: WIT Press.
Mulvaney, D. (2011). Green Energy: An A-to-Z Guide. Califonia: SAGE.
Tomes, D. L., & Songstad, D. (2010). Biofuels: Global Impact on Renewable Energy, Production Agriculture, and Technological Advancements. London: Springer Science & Business Media.
Wellinger, A., Murphy, J., & Baxter, D. (2013). The Biogas Handbook: Science, Production and Applications. Elsevier.