Initially, India’s industrial growth and economic progress were being hampered by acute energy scarcity. As a result, setting up new power plants came with the import of highly volatile fossil fuels. Given the current state of the climate crisis and our government’s mission to be net carbon zero, it is imperative to make judicious use of renewable energy resources and invest in solar industries shares in India.
With over 5000 trillion kWh per year of energy generated by the sun, solar energy in India is steadily picking up its pace. Since most developed countries are switching to solar energy, investors are keen to invest in solar industries shares or solar panel stocks in India to encourage clean energy solutions in the country.
In this blog, we will explore the current state of solar energy stocks in India, the reasons for the sudden investor interest, popular solar panel stocks in India, a solar share list and what readers can expect in the future.
What are Solar Energy Stocks in India?
Solar energy is a clean and renewable resource with zero emissions. Various devices can harness the tremendous energy potential of solar power. In recent years, solar energy stocks systems have become readily available for industrial and domestic use by also being maintenance-free.
The rapid development in solar energy market in India has positively impacted investors’ views on investing in solar energy stocks in India. The best Solar energy stocks in India or solar panel stocks in India are stocks or shares of companies that are involved in producing, installing, or distributing solar energy products or services. These solar industry share companies primarily manufacture solar panels, inverters, and other components of solar energy systems. These solar energy companies in India also provide services such as installation, maintenance, and monitoring of solar energy systems.
Thus, investing in the best solar energy stocks in India or government solar stocks can expose investors to the rapidly growing renewable energy sector. As the world embraces more sustainable energy sources, experts anticipate India’s solar industry shares to gain increasing importance. Additionally, they expect selling solar energy shares, solar penny stocks or government solar stocks to yield significant profits.
Popular Solar Industries to Invest in 2024
The Government of India has begun to realize the importance of solar energy, which has boosted the momentum of solar industries share prices. Therefore, let’s look at the best solar energy stocks list in India. These are the top ranked renewable energy stocks or solar penny stocks in India:
|Market Cap (in Cr)
|Adani Green Energy Ltd
|Borosil Renewables Ltd
|Gensol Engineering Ltd
|Insolation Energy Ltd
|JSW Energy Ltd
|KPI Global Infrastructure Ltd
|Reliance Industries Ltd
|Sterling and Wilson Renewable Energy Ltd
Please note that the above list is for educational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing.
The solar power share price data in the solar share list is from 22nd February, 2024. However, for real-time updates on stock prices and market trends and the top solar companies in India listed in stock market, visit the smallcase stocks collection today!
Why Invest in Solar Energy Stocks?
The Rural Electrification Program of 2006 was the first step by the Indian Government towards rural consumption and solar power. To date, the initial growth of the solar industries shares have been dramatic.
The National Action Plan on Climate Change states,
“India is a tropical country, where sunshine is available for longer hours per day and in great intensity. Solar energy, therefore, has great potential as a future energy source. It also has the advantage of permitting decentralized energy distribution, thereby empowering people at the grassroots level”.
Solar Parks, Solar Rooftop Programs, Net Metering, International Solar Alliance, and many others are the Ministry’s exciting initiatives to encourage clean and renewable energy. Additionally, as part of the Union Budget 2023, the Indian government has increased the budgetary allocation for ‘off-grid’ solar projects. More and more funds are being pushed towards production of solar power company shares generators. Additionally, the government is expected to spend 61 crores in the current fiscal year but has budgeted 360 crores for the next fiscal year.
At last, the country anticipates totalling 15,820 TWh by 2040, hoping for an exciting set of investors to invest in solar industry shares or solar panel stocks in India. Consequently, Solar Energy Stocks India emerge as a great investment opportunity for investors in India!
An Overview of the Best Solar Energy Stocks in India
Here is an overview of the top Solar Energy Stocks in India in the stock market. These three are the best solar energy stocks in India.
The top solar companies in India or solar penny stocks listed in above are as follows:
One of the top players of solar power company shares is Adani Green Energy Ltd is a part of the Adani Group. One of India’s largest renewable energy companies. These solar power company shares are engaged in developing, constructing, operating, and maintaining renewable power projects, including solar and wind energy. It is one of the top solar energy stocks in India and offers solar power stocks India to interested investors in 2024!
Borosil Renewables Limited, formerly Borosil Glass Works Limited, was founded on December 14th, 1962, with the primary aim of acquiring the operations of the Industrial and Engineering Apparatus Company Pvt. Ltd. The company officially changed its name to Borosil Renewables Limited on February 11, 2020, following the receipt of a Certificate of Incorporation reflecting the name change from the Registrar of Companies Mumbai.
Gensol Engineering Limited, initially known as ‘Gensol Engineering Private Limited’, was incorporated on September 25, 2012. Later, it transitioned into a public limited company following a special resolution passed during an Extraordinary General Meeting on February 08, 2019. The company’s name was subsequently changed to ‘Gensol Engineering Limited’ on February 26, 2019. Anmol Singh Jaggi and Puneet Singh Jaggi serve as the promoters. The original subscribers to the Memorandum of Association were Anmol Singh Jaggi, Puneet Singh Jaggi, and Navneet Singh Gosal.
Insolation Energy Ltd. began as a Private Limited Company in Jaipur, Rajasthan, under the Companies Act 2013 on October 15, 2015. It transitioned into a Public Limited Company through a Shareholders’ Resolution on December 24, 2021, and officially changed its name to Insolation Energy Limited on February 7, 2022.
JSW Energy Ltd, a branch of the $12 billion JSW Group, operates diverse energy ventures. It boasts an installed capacity of 6564 MW, encompassing thermal (3158 MW), wind (1358 MW), hydro (1391 MW), and solar (657 MW) power. Additionally, it jointly manages two 400 KV transmission lines with Maharashtra State Electricity Transmission Company Limited. Furthermore, JSW Energy Ltd holds a 9 MTPA lignite mining capacity in Rajasthan through a partnership with Rajasthan State Mines and Minerals Limited (RSMML).
K.P.I. Global Infrastructure Limited began its journey in Mumbai on February 1, 2008. By August 22 of the same year, it secured the Certificate of Commencement of Business. This company specializes in solar power generation, operating under the brand name “Solarism.” It serves as both an Independent Power Producer (IPP) and a service provider to Captive Power Producer (CPP) customers.
NHPC Limited is a hydroelectric power generation solar power company shares in India, along with being one of the top solar energy shares in India. The company’s primary business is constructing and operating hydroelectric power plants, including run-of-the-river and storage-based projects. It is one of the top solar energy stocks in India.
India’s largest power utility company, NTPC Ltd, currently boasting an installed capacity of 72254 MW (including JVs), aims to reach 130 GW by 2032. It specializes in generating and selling bulk power, consistently surpassing national efficiency standards with high availability and plant load factors. NTPC has strategically planned to integrate advanced technology, such as supercritical and ultra-supercritical machines, into its new plants, ensuring long-term operational excellence.
Reliance Industries stands as India’s foremost private sector entity across key financial measures. It achieved a significant milestone in 2004 by becoming the first Indian private company listed in the prestigious Fortune Global 500. Operating top-tier manufacturing facilities in Allahabad, Barabanki, Dahej, Hazira, Hoshiarpur, Jamnagar, Nagothane, Nagpur, Naroda, Patalganga, Silvassa, and Vadodara, Reliance Industries maintains a nationwide presence.
Sterling & Wilson Renewable Energy Ltd (formerly Sterling and Wilson Solar Limited) began as Rashmika Energy Private Limited on March 9, 2017. It later absorbed the Solar EPC Division of Sterling and Wilson Private Limited, following a demerger approved by the NCLT Mumbai on March 28, 2018. This demerger was in line with a Scheme of Arrangement, with the transfer of the Solar EPC Division effective from April 1, 2017.
However, if you’re confused about which stocks to pick, you can explore smallcases:
- smallcases are readymade portfolios of stocks/ETFs, that are based on a theme idea or strategy
- They’re created and managed by SEBI-registered experts
- smallcase.com offers over 200+ stock portfolios, created by 180+ managers
- Some of the popular smallcases among new investors are as follows:
Disclosures for aforementioned smallcases
How to invest in Solar Energy Stocks via smallcase?
Let’s go through a few steps you can follow to invest in the best Solar shares in India via smallcase:
- Log in with any Indian smallcase broker and enter your password on the smallcase app or website.
- View the Green Energy smallcase managed by Niveshaay. This smallcase is a portfolio of stocks, which will benefit from the energy transition. Energy transition refers to the global energy sector’s shift from fossil-based systems of energy production and consumption — including oil, natural gas, and coal — to renewable energy sources like wind and solar , as well as other sources like biofuels.
- Review your personal details and the billing plan before placing an order. Next, click on ‘Invest now’.
- Lastly, choose between Monthly SIP or One Time payment method.
- Finally, click on ‘Confirm Orders’.
Congrats! You have now invested in Solar Energy Stocks!
Disclosures for Green Energy smallcase
Factors to Consider Before Investing in Solar Industries Shares
If you’re considering investing in solar industries shares in India, there are several factors to take into account to ensure a well-informed investment decision, including the performance of the solar industries share and the current state of the top solar stocks in India.
Here are some factors to consider before investing in solar energy stocks India:
Government Policies and Incentives
Government policies and incentives can significantly impact the growth and profitability of new energy solar industries shares in India. These policies have created a favorable environment for the best solar stocks in India involved in the manufacturing of solar energy equipment and helped boost solar company shares.
Portfolio diversification is crucial when investing in the stock market, including the solar energy stocks India. Investing in solar sector stocks in India can help diversify a portfolio, and you can assess the potential impact of adding solar energy share list.
Competition from Traditional Energy Sources
Solar industry shares face competition from traditional energy sources such as coal, oil, and gas. These top solar stocks in India and energy sources are still widely used in India, so fluctuations in solar energy corporation of India share prices may impact solar energy stocks India.
Global Economic Conditions
Global economic conditions can affect solar industries shares. For example, the COVID-19 pandemic has disrupted global supply chains, thereby also impacting solar power shares. Additionally, it impacted the solar industry’s supply of raw materials and components, leading to a temporary decline in solar energy stocks India. Thereby, causing a significant change in solar power stocks India or solar related stocks and prices.
Advantages of Investing in Solar Industries Shares
The rising solar company share prices and the government’s push for renewable energy are expected to drive significant growth in the solar industries in India. Some of the advantages of investing in the top solar stocks in India are listed below:
- Potential for Long-Term Growth: Over the past decade, the solar industry has steadily grown. It is also expected to continue growing in the coming years. The increasing demand for renewable energy and the declining cost of solar technology will boost the growth of solar power stocks India for many years.
- Diversification of Portfolio: Investing in the best solar stocks in India can help diversify a portfolio and reduce risk. Solar energy stocks India can offer a different risk and return profile than traditional energy stocks. Thus, it provides investors with exposure to a different sector of the economy.
- Positive Environmental Impact: Solar energy is a clean and renewable energy source. Investing in solar industries shares can help support the transition to a more sustainable energy system. Investing in the best solar stocks in India can help reduce greenhouse gas emissions and mitigate climate change.
- Potential for High Returns on Investment: As the solar company share prices continue to grow, there is the potential for high returns on investment. Thus, solar company shares that can compete effectively in the market continue to innovate. Furthermore, they offer growth and profitability in solar power shares.
To Wrap It Up…
To conclude, India has great potential to generate electricity from solar energy and emerge as a solar energy hub. Experts predict the solar share prices to rise as the Indian government continues to promote the best solar stocks in India. Luckily, you don’t have to monitor every share in the solar industry. How?
The 3 best Solar Energy stocks in our solar share list are as follows:
1. Adani Green Energy Ltd
2. NHPC Ltd
3. SJVN Ltd
Note: This solar power stocks India list is for educational purposes only, and is not recommendatory.
2. How can I invest in Solar Energy stocks?
If you’re interested in investing in the solar sector, consider solar company stocks or ETFs. Another way to benefit from solar energy is by installing solar panels on your own properties.
Solar Parks, Solar Rooftop Programs, Net Metering, International Solar Alliance are the Ministry’s exciting initiatives to encourage clean and renewable energy. However, it’s crucial to research extensively, evaluate potential risks, and consult financial experts. Especially before making any investment choices regarding the top solar stocks in India.
4. Who Should Invest in Solar Energy Stocks?
Solar industries shares are good to buy. Especially, for those who are interested in investing in renewable energy resources, thereby solar energy power. As solar shares are on the rise this could attract revenue and profit growth. However, investors must do their own research, and/or consult financial advisor before making investing in solar energy stocks.
5. Which is the largest solar project in India?
The largest solar project in India is the Bhadla Solar Park, located in the Thar Desert of Rajasthan.
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