Best Solar Stocks India: Right Insights before invest

Solar Energy Stocks India
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Solar energy stocks India are buzzing now after the launch of the Rooftop Solar plan by Prime Minister of India, Shri Narendra Modi on 30/07/2022.  The subsidy for rooftop solar installations increased to about 60% under the new Pradhan Mantri Suryoday Yojana from 40% earlier. Under the plans, solar power is expected to be over 50% of the total renewable capacity of 500 GW by 2030.

Besides the government’s focus on solar energy, private investments in solar PV are also expected to increase. The electricity generation from solar energy globally is likely to grow by an average of 25% between 2022 to 2030 to meet the Net Zero Emissions Scenario by 2050.

Globally, the solar power installation has gone up by approximately 189 GW of solar PV capacity in 2022 to take the total installed capacity to 1,055 GW, a growth of 22% over the previous year. According to the IEA, the global cumulative solar PV capacity would triple by 2027, surpassing natural gas by 2026 and coal by 2027.

Solar Energy Stocks India

The solar industry has been doing very well in India with the push-through government policies. According to the Ministry of Renewable Energy, the installed solar energy capacity has increased by 30 times during the last 9 years to reach 82.63 GW by Apr 2024 from 2.6 GW in 2014. Still, India has a lot of potential in the solar energy industry.  According to the National Institute of Solar Energy (NISE), the potential of India in solar power is estimated to be 748 GWp. The major solar energy stocks in India are in the below table.

Solar Energy Stocks

Let us find out all the solar energy stocks in India to understand the total solar market and the player in the industry in India.

Stock NameProducts/ ServicesMarket Cap (Rs. Cr.)PAT (Rs. Cr.)Debt Equity RatioROE (%)ROC (%)
Adani Green Energy Ltd.Solar Power Generation299595.989739.2327.528.46
Tata Power Company Ltd.Solar Power Generation139604.383809.671.714.8713.3
JSW Energy Ltd.Solar Power Generation107111.991480.121.348.247.99
SJVN Ltd.Solar Power Generation54663.451359.31.0110.069.08
Waaree Renewable Technologies Ltd.Solar Power Generation21589.155.330.4696.984.06
KPI Green Energy Ltd.Solar Power Generation10765.57109.632.0253.2629.71
Reliance Power Ltd.Solar Power Generation10026.36-361.361.84-3.136.58
Gujarat Industries Power Company Ltd.Solar Power Generation2739.16188.690.156.098.08
India Power Corporation Ltd.Solar Power Generation1674.9215.840.542.265.54
Gita Renewable Energy Ltd.Solar Power Generation66.087.86052.9228.97
IndoSolar LtdPV Solar Cell Manufacturer123-15-6.9
Sterling and Wilson Renewable Energy Ltd.Solar Power Generation16,423-210.790.49-56.72.83
Borosil RenewablesSolar Glass Manufacturer5,822.64-51.190.658.019.47
Zodiac Energy LtdService provider in Solar Power Connetion
Servotech Power SystemsSolar Power Equipment manufacturer
Vikram SolarSolar Module Manufacturer
Goldi SolarSolar Panel Manufacturer and EPC service provider
Saatvik Green EnergySolar Module Manufacturer
Renewsys IndiaManufacturer of Solar PV Modules and its key components

Top 8 Solar Energy Stocks in India

Here are the top 8 solar energy stocks in India for further analysis.

Stock NameSymbolMarket Cap (Rs. Cr.)PAT (Rs. Cr.)Debt Equity RatioROE (%)ROC (%)
Adani Green Energy Ltd.ADANIGREEN299595.989739.2327.528.46
Tata Power Company Ltd.TATAPOWER139604.383809.671.714.8713.3
JSW Energy Ltd.JSWENERGY107111.991480.121.348.247.99
SJVN Ltd.SJVN54663.451359.31.0110.069.08
Waaree Renewable Technologies Ltd.53461821589.155.330.4696.984.06
KPI Green Energy Ltd.KPIGREEN10765.57109.632.0253.2629.71
Gujarat Industries Power Company Ltd.GIPCL2739.16188.690.156.098.08
Sterling and Wilson Renewable Energy Ltd.SWSOLAR16,423-210.790.49-56.72.83
Top 8 Solar Energy Stocks in India
What is National Solar Mission India

The objective of National Solar Mission India is to make India a hub for solar energy.

What is the rooftop solar scheme in 2024?

The rooftop solar scheme is aiming to provide free solar electricity to one crore households. This scheme will help to reduce electricity costs, create employment, and promote renewable energy.

How to apply for rooftop solar scheme?

You can directly registered in National Portal for Rooftop Solar. This portal is operated and maintained by Ministry of New and Renewable Energy of India.

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We endeavor to help you to understand different aspects of a company before you invest in the company’s IPO. Learn all company insights for investment in new companies in the Indian share market 2023. To know more information about company insights for investment, business overview of companies for investment, here are some suggested readings on company insights for investment – Green Hydrogen Stocks in India10 Best IPOs in 2022Tata Motors Stock PriceTata Play IPOUpcoming IPOsUpcoming SME IPOsTesla Stock PriceTata Technologies IPOAI Stocks in India.

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