The issue of climate change has received a lot of attention, and emerging economies are concerned about it as well.
Using clean and renewable energy sources is becoming more and more crucial as a result of these environmental concerns.
The Indian government, which is considering the detrimental effects of fossil fuels, also aggressively supports the adoption of renewable energy sources.
This encourages companies in India to concentrate on renewable energy sources like solar energy.
In this piece, we discussed the possibilities for solar energy companies as well as a list of Indian solar energy stocks.
Continue reading to learn more about it.
The Solar Energy Industry: An Overview
To capture solar energy and convert it into electric power, the solar energy industry designs and installs the necessary machinery.
In the future decades, India’s energy consumption is expected to increase more than any other country due to its size and significant potential for growth and development.
Hence, low-carbon, renewable sources must be primarily used to meet this growing need for energy.
India’s announcement that it intends to achieve net zero carbon emissions by 2070 and to meet 50% of its energy needs from renewable sources by the end of 2030 represents a turning moment in the struggle against climate change on a global scale.
In India, the market with the largest growth in renewable electricity, capacity expansion increases are predicted to quadruple over the course of the following several years.
Investor interest in the sector has increased because to the government’s stronger support and the strengthening of the economy.
India will need to rely heavily on renewable energy in order to meet its energy demands, which are expected to reach 15,820 TWh by 2040.
Best Solar Energy Stocks in India 2023
Now that we understand this sector better, let’s evaluate the finest Solar Energy Stocks in India of the year.
| S.No. | Solar Energy Stocks List |
| 1. | Tata Power Company |
| 2. | Suzlon Energy |
| 3. | WAA Solar |
| 4. | Websol Energy System |
| 5. | Synergy Green Industries |
| 6. | Ujaas Energy |
| 7. | Surana Solar |
| 8. | Urja Global |
| 9. | Intersolar |
| 10. | Gita Renewable Energy |
Things to Take into Account Before Investing in Indian Solar Energy Businesses
The following is a list of the key considerations you should keep in mind before buying shares of the best solar energy companies in 2023:
- The Market for Solar Energy is Expanding Quickly
In recent years, the solar energy industry has grown quickly, and this trend is expected to continue.
According to data conducted by the International Energy Agency, solar energy is now the cheapest source of power ever.
As a result, there is a greater need for solar panels, and the industry is anticipated to grow quickly.
Its growth is also influenced by the increasing number of countries and companies embracing renewable energy goals.
- In A Choppy Market, Solar Energy Stocks Might Do Well
Companies that use renewable energy may commonly succeed in a shaky market.
This is because companies in the renewable energy sector frequently have long-term goals, such as boosting sustainability and reducing emissions. Thus, solar stocks might be regarded as a trustworthy stock market investing option.
Also, recent performance of solar energy-related stocks has been positive.
- Solar Energy Stocks Might Help You Diversify Your Portfolio.
By diversifying your portfolio with investments in the top solar energy stocks, you may be able to reduce your overall risk.
Also, by including businesses from a developing industry with a bright future, you might be able to balance any risks from multiple other assets.
Also, there is no connection between solar energy stocks and other forms of stocks or assets, such as securities or real estate. Hence, including solar energy-related stocks in your portfolio may aid in reducing the volatility and true risk of your investments.
- Governments Are Encouraging the Expansion of Solar Power
Across the world, a number of countries are establishing incentives and rules to promote the growth of solar energy.
Government regulations may increase consumer demand for solar energy, accelerating the sector’s growth. Governments are also setting infrastructure investment priorities and renewable energy objectives.
- Possibility of High Returns
It’s a great idea to invest in solar energy firms to take advantage of the expanding demand for sustainable energy.
With the shift to a more sustainable future, solar energy stocks have a chance to make considerable gains, especially as the sector grows.
Solar energy companies have the potential to offer investors large profits due to expanding solar energy demand, increasing efficiency, and declining prices of solar technology.
Also, as more individuals and companies transition to solar energy, the demand for solar panels and related items will grow, increasing the profitability of solar firms.
- These Stocks Have Excellent Long-Term Potential
As we continue to battle the effects of global warming and the need for sustainable energy sources, solar energy has enormous long-term promise. As a consequence, by purchasing shares in the solar energy sector, you may invest in a market with a bright future.
The International Energy Agency predicts that solar energy will be the main source of electricity by the year 2050.
This growth is a result of declining costs, improved technology, and increased demand.
Overview of Indian Solar Energy Companies Listed on the Stock Market
With our ongoing battle against the effects of climate change and the need for sustainable energy sources, solar energy holds enormous long-term potential. Hence, by purchasing stocks in the solar energy industry, you may make an investment in a field with a bright future.
According to the International Energy Agency, solar energy is anticipated to become the main source of electricity by 2050.
This rise is influenced by declining costs, technological development, and increased demand.
1) Tata Power Company
With our ongoing battle against the effects of climate change and the need for sustainable energy sources, solar energy holds enormous long-term potential.
Hence, by purchasing stocks in the solar energy industry, you may make an investment in a field with a bright future.
According to the International Energy Agency, solar energy is anticipated to become the main source of electricity by 2050.
This rise is influenced by declining costs, technological development, and increased demand.
2) Suzlon Energy
Suzlon Energy Ltd provides comprehensive solutions for all issues related to wind energy projects through its renewable energy solutions.
Moreover, the business offers total turnkey solutions, beginning with asset life-cycle management and concluding with design.
Suzlon manufactures energy in addition to generating power, selling solar panels, and providing 100% made-in-the-USA castings, forgings, and foundry components.
It also enhances forecasting and scheduling, boosts turbine energy production, and enables proactive field condition monitoring.
Suzlon provides remote monitoring for more than 9,700 wind turbines worldwide using SCADA (Supervisory Control and Data Acquisition) technology.
3) WAA Solar
In India, Waa Solar Ltd was established with the goal of generating solar power.
The firm creates solar power projects and funds associate and subsidiary businesses that generate solar electricity using special purpose vehicles (SPVs).
Solar projects are the focus of the company’s engineering, procurement, and construction (EPC) operations.
One of the projects of the company is a Solar Photovoltaic (PV) Grid Interactive Power Plant with a capacity of about 10 megawatts (MW) in the village of Nayka in At Raja Bhoj Airport in Bhopal, another Sun Power Plant with a peak capacity of roughly 100 kilowatts (KWP), and a third Solar Power PlantPV Grid Interactive Power Plant with a total capacity of about 10
4) Websol Energy System
The manufacturing of solar cells and modules is Websol Energy System Limited’s primary business.
Producing solar photovoltaic cells and modules is what the company does. There were made renewable energy projects totaling almost 94.43 gigawatts (GW).
The company’s goods are used in both domestic and foreign commercial and industrial contexts.
Its production capacity consists of roughly 250 MW of fully automated module lines and about 250 MW of cells. The company’s plant is located in Sector II of the Falta Special Economic Zone in Falta, West Bengal.
5) Synergy Green Industries
The foundry sector is where the Indian company Synergy Green Industries Limited operates.
Among other things, the firm produces large, precise castings for wind turbines. Moreover, the business manufactures and markets graded grey iron, spheroidal graphite iron, and raw and machined steel castings.
Moreover, the business produces and markets graded grey iron, spheroidal graphite iron, and raw and machined steel castings.
Among the other products offered by the company are the main axle, hollow shaft, DV-casing, diffuser, cone head, eccentric23, upper frame, pump casing, rear wheel, main frame, valve body, pump the primary foundation, the front wheel, the base frame, the wedge, the wall body, the main bearing housing, the cannon tube, the hub, and the gearbox housing.
6) Ujaas Energy
Solar energy solutions are the focus of the Indian business Ujaas Energy Ltd.
The business develops, operates, owns, and maintains a wide range of solar energy generation facilities under its flagship brand, UJAAS.
Electric Vehicle (EV), Un-allocable, Manufacturing and Marketing of Solar Power Plants, and Solar Power Generation and Maintenance are the four business sectors through which it works. The company’s services include UJAAS, UJAAS Park, UJAAS My Site, and UJAAS Home.
Ujaas Park provides a complete turnkey solution for investors that want to become a solar power generator under renewable energy certificates, special tariffs, average power purchase costs (APPC), or captive methods.
7) Surana Solar
Surana Solar Limited, a company with its headquarters in India, produces solar photovoltaic modules, generates wind and solar energy, and trades a variety of solar-related products.
The Solar Products and Wind Power industries make up the Company. Solar PV module manufacturing and marketing are handled by the Solar Products division.
Solar and wind energy production is handled by the wind energy sector.
The firm sells solar lights, solar lanterns, and photovoltaic modules, among other things. The company’s solar lighting solutions also include Solar Street Lighting and Home Lighting Systems.
The business also works on turnkey megawatt-size power project engineering, procurement, and construction.
8) Urja Global
Urja Global Limited is a developer and operator of renewable energy.
The company engages in the design, consulting, integration, supply, installation, commissioning, and maintenance of off-grid and grid-connected solar power plants, as well as decentralized solar application, solar product trade, and lead acid batteries.
Among the company’s products are solar charge controllers, LED lights, batteries, solar inverters, LED lights, PV modules, water heaters, solar lanterns, power packs, and solar inverters.
The Urja Kendra Neo, Urja Kendra Leo, Urja Dlx, and Urja Eco make up its line-up of electric rickshaws.
Also, they have a variety of alternatives, including solar batteries, E-rickshaw batteries, vehicle batteries, and inverter batteries.
9) Intersolar
The design, consulting, integration, supply, installation, commissioning, and maintenance of off-grid and grid-connected solar power plants, as well as decentralized solar application, solar product trade, and lead acid batteries, are all activities carried out by the company.
Urja Global Limited is a developer and operator of renewable energy.
Among the company’s products are e-rickshaws, batteries, solar inverters, LED lights, PV modules, water heaters, solar lanterns, power packs, house lighting, and solar charge controllers. The Urja Kendra Neo, Urja Kendra Leo, Urja Dlx, and Urja Eco are the company’s E-Rickshaw models.
They also have alternatives like solar batteries, E-rickshaw batteries, car batteries, and inverter batteries.
10) Gita Renewable Energy
The main commercial endeavors of Gita Renewable Energy Ltd are the generation and distribution of energy.
The management and upkeep of the two megawatts (MW) solar facility at Harahan Palli is one of the company’s key focus areas. Also, the business operates and maintains solar power infrastructure.
Except for other assets and liabilities sold by way of slump sale as defined in Section 2 (42 C) of the Income Tax Act of 1961, the Company sold properties, plants, machinery, equipment, and liabilities relating to coal-based thermal plants and waste heat recovery facilities to the connected party during the review period for a lump sum payment.
Conclusion
Production and distribution of power are the main commercial endeavors of Gita Renewable Energy Ltd.
Operation and upkeep of the two-megawatt (MW) solar project at Harahan Palli are among the company’s important focus areas. Moreover, the corporation operates and maintains solar power plants.
With the exception of other assets and liabilities sold via a slump sale, as defined in Section 2 (42 C) of the Income Tax Act of 1961, the Company sold the connected party during the review period for a lump sum payment, including plants, machinery, equipment, and liabilities relating to waste heat recovery facilities and coal-based thermal plants.
