List of Best Solar Energy Stocks in India for 2025
India has increased its solar capacity from 2.6 GW in 2014 to 84.27 GW, and now it’s ranking fifth globally in solar power capacity. The country aims to achieve 500 GW of renewable power by 2030. This article provides an overview of solar energy stocks in India, covering the benefits, risks, and factors to consider before investing in this sector.
Best Solar Energy Stocks
Saturday, 2 August, 2025
| symbol | Company | ticker | slug | Sector | Market Price | 52W High | 52W Low | Market Cap (Cr.) | PE Ratio | Industry PE | PB Ratio | Div. Yield (%) | ROE (%) | 1YReturns | 3YReturns | 5YReturns | Market Cap Label | Industry Group | Industry | Sub Industry | percentageChange |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ADAN | Adani Power Ltd | ADANIPOWER | /stocks/adani-power-ADAN | Power Generation | 567.00 | 752.90 | 432.00 | 218,688.44 | 16.90 | 21.06 | 3.78 | 0.00 | 25.59 | -23.17 | 76.17 | 1,513.09 | Largecap | Utilities | Independent Power and Renewable Electricity Producers | Independent Power Producers & Energy Traders | -3.59 |
| ADNA | Adani Green Energy Ltd | ADANIGREEN | /stocks/adani-green-energy-ADNA | Renewable Energy | 972.60 | 2,091.00 | 758.00 | 160,204.35 | 110.94 | 21.06 | 7.10 | 0.00 | 7.22 | -48.86 | -57.22 | 186.23 | Largecap | Utilities | Independent Power and Renewable Electricity Producers | Renewable Electricity | -1.23 |
| ENR | Siemens Energy India Ltd | ENRIN | /stocks/siemens-energy-india-ENR | Power Generation | 3,168.80 | 3,277.10 | 2,508.80 | 112,847.47 | 276.05 | 21.06 | 0.00 | 0.00 | 11.68 | 15.86 | 15.86 | 15.86 | Largecap | Capital Goods | Independent Power and Renewable Electricity Producers | Heavy Electrical Equipment | -2.13 |
| JSWE | JSW Energy Ltd | JSWENERGY | /stocks/jsw-energy-JSWE | Power Generation | 511.65 | 804.90 | 418.75 | 89,297.44 | 45.77 | 21.06 | 3.07 | 0.39 | 7.79 | -29.68 | 107.86 | 1,022.04 | Midcap | Utilities | Independent Power and Renewable Electricity Producers | Independent Power Producers & Energy Traders | -0.66 |
| NHPC | NHPC Ltd | NHPC | /stocks/nhpc-NHPC | Renewable Energy | 83.24 | 106.30 | 71.00 | 83,614.87 | 27.81 | 21.06 | 1.90 | 2.29 | 8.46 | -20.76 | 139.88 | 313.10 | Midcap | Utilities | Independent Power and Renewable Electricity Producers | Renewable Electricity | -0.01 |
| NTP | Ntpc Green Energy Ltd | NTPCGREEN | /stocks/ntpc-green-energy-NTP | Renewable Energy | 104.53 | 155.35 | 84.55 | 88,080.42 | 185.25 | 21.06 | 14.13 | 0.00 | 6.20 | -14.07 | -14.07 | -14.07 | Midcap | Utilities | Independent Power and Renewable Electricity Producers | Renewable Electricity | 0.25 |
| NTPC | NTPC Ltd | NTPC | /stocks/ntpc-NTPC | Power Generation | 330.90 | 448.45 | 292.80 | 320,862.68 | 13.70 | 21.06 | 1.94 | 2.52 | 13.17 | -21.86 | 111.44 | 286.57 | Largecap | Utilities | Independent Power and Renewable Electricity Producers | Independent Power Producers & Energy Traders | -1.00 |
| SLIN | Solar Industries India Ltd | SOLARINDS | /stocks/solar-industries-india-SLIN | Commodity Chemicals | 13,807.00 | 17,820.00 | 8,482.50 | 124,939.62 | 103.30 | 27.45 | 27.46 | 0.07 | 30.32 | 28.80 | 412.65 | 1,303.72 | Largecap | Materials | Chemicals | Commodity Chemicals | -2.90 |
| WAARE | Waaree Energies Ltd | WAAREEENER | /stocks/waaree-energies-WAARE | Renewable Energy Equipment & Services | 3,104.00 | 3,743.00 | 1,863.00 | 89,172.70 | 47.75 | 38.10 | 21.50 | 0.00 | 41.17 | 32.71 | 32.71 | 32.71 | Midcap | Semiconductors & Semiconductor Equipment | Semiconductors & Semiconductor Equipment | Semiconductors | 3.73 |
Disclaimer: 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.
Note: The data on this list of solar energy stocks is dynamic in nature and subject to real-time changes. This data is derived from Tickertape Stock Screener.
What are Solar Energy Stocks?
Solar energy stocks are shares of companies that are directly or indirectly involved in solar power systems. For example, it includes solar panel manufacturers, project developers, and firms working in storage and grid solutions.
About the Top Solar Energy Stocks in India 2025
- NTPC Limited: NTPC Limited is India’s largest energy conglomerate, primarily engaged in power generation. NTPC Limited aims to expand its renewable energy capacity to 60 GW by 2032, with a strong focus on solar and wind power projects.
- Adani Green Energy Ltd: Adani Green Energy Ltd is one of India’s largest renewable energy companies, focusing on solar and wind power.
- Solar Industries India Ltd: Solar Industries India Ltd is a leading manufacturer and supplier of industrial explosives and defence products, with a growing presence in the solar energy sector.
- Waaree Energies Ltd: Waaree Energies Ltd is India’s largest solar photovoltaic (PV) module manufacturer. Waaree offers a wide range of solar solutions, including EPC services, rooftop systems, and solar water pumps
- JSW Energy Ltd: JSW Energy Ltd is a leading energy producer in India, engaged in the generation, transmission, and distribution of power. JSW Energy Ltd plans to increase its renewable portfolio 84% by FY2030, aiming for 20 GW capacity.
Budget Updates from the Solar Energy Sector in India
- ₹20,000 Cr. Outlay for Solar Push: The Indian finance minister announced ₹20,000 cr. for solar initiatives under the National Renewable Mission. This aims to support the large-scale and decentralised projects of the solar energy companies in India.
- Strengthening Solar Grid Infrastructure: The Government has allotted ₹1,500 cr. to strengthen the solar power grid. Upgraded transmission systems will support the rise of solar energy adoption.
- PLI Scheme for Solar Manufacturing: The Production-Linked Incentive (PLI) scheme extension backs the solar energy companies in India. This initiative supports the growth of renewable energy and reduces dependence on solar imports.
- Boost for Solar R&D and Innovation: The increase in the budget will fund innovation in solar technologies, such as PV cells and storage. This will support the growth and sustainable energy research partnerships and help the Indian solar energy sector to gain strength through advanced capabilities.
- Single-Window Clearance for Projects: A single-window system will speed up the development of new solar projects by simplifying the process for obtaining land and environmental clearances.
How to Invest in Solar Energy Stocks in India?
Here is how one can invest in the best solar energy stocks in India:
- Open a trading account or a demat account. You can open a demat account with smallcase.
- Investors can utilise tools like the Tickertape Stocks Screener to explore the best solar energy stocks. Additionally, there are 200+ filters that you can use to create different screeners for comparison of various Indian solar energy stocks.
- Place a ‘Buy’ order on the solar energy stocks of your choice.
Benefits of Investing in Solar Energy Stocks
- Historical Foundation: The Rural Electrification Program of 2006 was the Indian Government’s initial step toward increasing rural energy consumption via solar power.
- Government Support and Incentives: The National Action Plan on Climate Change highlights the high-growth potential of India’s solar sector, noting its favourable climate for decentralised energy distribution. It may reflect in the price movement of solar energy stocks over time.
- Rapid Growth Potential: India’s solar sector has seen exponential growth, with installed solar capacity surging from 1.60 GW in 2013 to over 116 GW by June 2025.
- Technological Advancements: The solar industry continually evolves, improving efficiency and reducing costs. Companies investing in R&D are well-positioned to capitalise on these innovations in solar technology.
Risks of Investing in Solar Energy Stocks
- Competition from Traditional Energy Sources: Solar companies face competition from traditional energy sources like coal, oil, and gas, which remain significant in India’s energy mix.
- Regulatory and Policy Risks: Government policies play an important role in the development of solar energy companies in India. Changes in these policies or delays in regulatory approvals can affect the performance of solar energy stocks.
- Supply Chain Disruptions: The solar sector relies heavily on the global supply chain for components such as panels and batteries. For example, fluctuations in the cost of panels can influence the price of solar panel stocks.
Future of Solar Energy Stocks in India
In FY 2025 alone, India added 17.4 GW of utility-scale solar capacity, bringing the total installed capacity to 86.4 GW. The Indian government’s supportive policies, such as the Pradhan Mantri Surya Ghar Muft Bijli Yojana, aim to promote rooftop solar adoption, targeting 1 cr. Households with subsidies and concessional financing. With such initiatives, the future outlook for India’s solar energy sector looks promising.
Factors to Consider Before Investing in Solar Stocks
- Fluctuating Material Costs: Many solar energy companies in India rely on imported materials like silicon and glass, making them vulnerable to global price fluctuations.
- Government Policies and Incentives: Government support is one of the key factors pushing the growth of solar energy stocks in India. Regulatory changes or delays in approvals can impact the flow of solar projects.
- Project Execution and Delivery: The successful execution of solar projects depends on meeting timelines and maintaining cost efficiency. Investors may need to stay updated with the company’s actual project delivery performance.
- Capital Intensity and Financial Health: Solar projects are capital-intensive, which requires significant investment in infrastructure and equipment.
- Competition and Market Share: The solar energy sector stocks in India face competition from both established energy sources and other renewable technologies.
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To Wrap It Up…
India has great potential to generate electricity from solar energy and emerge as a solar energy hub. However, just like any sector, it comes with its own set of challenges, including market volatility, policy changes, and competition from traditional energy sectors. Staying aware of the risks and seeking expert advice can help you make an informed decision when exploring the best solar stocks. You can also easily invest in a ready-made bundle of solar sector stocks via smallcase.
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Frequently Asked Questions About Solar Stocks
1. Is solar power a good stock investment in India?
The Government of India is launching various initiatives to support clean and renewable solar energy. However, whether it’s a good investment depends on a range of factors.
2. What is driving the growth of solar energy stocks?
Solar energy stocks are growing due to increasing global demand for clean and sustainable energy as countries and businesses aim to reduce carbon emissions and transition away from fossil fuels.
3. Is it a good time to explore solar energy stocks?
The right time for investment depends on various factors such as individual investment goals, market conditions, and government policies. It’s crucial to research extensively, evaluate potential risks, and consult financial experts, especially before making any investment choices.
4. Which are some of the best solar energy stocks in India?
Based on the market capitalisation, some of the best solar companies’ shares in India include: Adani Green Energy Ltd
- JSW Energy Ltd
- NHPC Ltd
- Solar Industries India Ltd.
5. Are there solar penny stocks in India?
Yes, there are penny stocks in the solar sector. You can use the Tickertape stock screener, which offers over 200 filters, to track solar penny stocks based on various parameters.
6. Do fluctuations in traditional energy prices impact solar energy stocks?
When there is a price drop in conventional energy sources, such as oil, coal, and natural gas, it reduces the cost advantage of solar energy. This may negatively impact demand for solar power and investor sentiment towards solar stocks.
7. What are solar stocks with high dividends?
As of 25 July 2025, the solar company share list with high dividend yields includes:
