Solar Energy Stocks: List of Best Solar Sector Companies in India
India's installed solar capacity reached approximately 143.6 GW by early 2026, up from just 2.6 GW in 2014, making the country the world's 5th largest solar power producer. The sector added 37,945 MW of solar capacity in 2025 alone, the highest single-year addition in India's history. Solar energy stocks in India span power generators, solar panel manufacturers, EPC contractors, solar glass makers, and green financing companies, each at a different point in the solar value chain. Here is the complete list of solar energy stocks in India with live price data and key financial metrics.
Best Solar Energy Stocks in India for 2026
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| NameStocks (24)↓ | ↓Sub-SectorSub-Sector↓ | ↓Market CapMarket Cap↓ | ↓Close PriceClose Price↓ | ↓PE RatioPE Ratio↓ | ↓1D Return1D Return↓ | ↓1M Return1M Return↓ | ↓6M Return6M Return↓ | ↓1Y Return1Y Return↓ | ↓PB RatioPB Ratio↓ | ↓Return on EquityReturn on Equity↓ | ↓ROCEROCE↓ | ↓Dividend YieldDiv Yield↓ | ↓Debt to EquityDebt to Equity↓ | ↓Volatility vs NiftyVolatility vs Nifty↓ | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | Reliance Industries LtdRELIANCE | Oil & Gas - Refining & MarketingOil & Gas - Refining & Marketing | 17,32,164.9617,32,164.96 | 1,280.001,280.00 | 21.4421.44 | 0.160.16 | -2.30-2.30 | -7.28-7.28 | -7.75-7.75 | 1.601.60 | 7.717.71 | 9.189.18 | 0.470.47 | 0.370.37 | 1.421.42 | |
| 2. | NTPC LtdNTPC | Power GenerationPower Generation | 3,40,159.053,40,159.05 | 350.80350.80 | 12.5712.57 | 1.041.04 | -0.55-0.55 | 1.771.77 | 5.365.36 | 1.781.78 | 13.1513.15 | 9.119.11 | 2.572.57 | 1.311.31 | 1.351.35 | |
| 3. | Adani Green Energy LtdADANIGREEN | Renewable EnergyRenewable Energy | 2,30,555.252,30,555.25 | 1,399.701,399.70 | 139.56139.56 | 0.330.33 | -7.28-7.28 | 75.1675.16 | 39.4339.43 | 7.727.72 | 6.306.30 | 6.916.91 | -- | 3.473.47 | 3.033.03 | |
| 4. | Solar Industries India LtdSOLARINDS | Commodity ChemicalsCommodity Chemicals | 1,68,564.871,68,564.87 | 18,628.0018,628.00 | 100.48100.48 | 0.720.72 | 6.256.25 | 45.9245.92 | 28.7628.76 | 25.7425.74 | 30.1330.13 | 30.1730.17 | 0.060.06 | 0.230.23 | 2.282.28 | |
| 5. | Tata Power Company LtdTATAPOWER | Power Transmission & DistributionPower Transmission & Distribution | 1,20,576.141,20,576.14 | 377.35377.35 | 32.1832.18 | 0.790.79 | -2.98-2.98 | 8.518.51 | -5.47-5.47 | 2.542.54 | 8.318.31 | 8.798.79 | 0.660.66 | 1.601.60 | 1.491.49 | |
| 6. | JSW Energy LtdJSWENERGY | Power GenerationPower Generation | 1,00,729.251,00,729.25 | 549.70549.70 | 44.9844.98 | -0.35-0.35 | -4.59-4.59 | 24.9224.92 | 5.695.69 | 3.003.00 | 7.157.15 | 7.537.53 | 0.350.35 | 2.292.29 | 2.152.15 | |
| 7. | NHPC LtdNHPC | Renewable EnergyRenewable Energy | 80,079.0280,079.02 | 79.7279.72 | 21.2721.27 | 0.420.42 | 1.151.15 | 6.106.10 | -4.76-4.76 | 1.771.77 | 6.756.75 | 5.755.75 | 2.022.02 | 0.880.88 | 1.711.71 | |
| 8. | Waaree Energies LtdWAAREEENER | Renewable Energy Equipment & ServicesRenewable Energy Equipment & Services | 78,856.7478,856.74 | 2,741.402,741.40 | 21.2521.25 | 1.461.46 | -7.75-7.75 | 1.711.71 | -11.90-11.90 | 8.228.22 | 27.1727.17 | 48.8348.83 | 0.070.07 | 0.120.12 | 2.812.81 | |
| 9. | Torrent Power LtdTORNTPOWER | Power Transmission & DistributionPower Transmission & Distribution | 72,562.1172,562.11 | 1,440.001,440.00 | 30.0330.03 | 0.410.41 | 0.840.84 | 9.959.95 | 7.597.59 | 3.683.68 | 12.7412.74 | 12.0312.03 | 1.391.39 | 0.710.71 | 2.202.20 | |
| 10. | SJVN LtdSJVN | Renewable EnergyRenewable Energy | 26,738.3326,738.33 | 68.0468.04 | 41.6441.64 | 0.680.68 | -5.45-5.45 | -4.92-4.92 | -28.10-28.10 | 1.881.88 | 5.805.80 | 5.895.89 | 2.202.20 | 1.901.90 | 2.272.27 | |
| 11. | CESC LtdCESC | Power GenerationPower Generation | 21,516.6621,516.66 | 162.32162.32 | 13.9513.95 | -0.53-0.53 | -3.69-3.69 | 15.5815.58 | -6.71-6.71 | 1.711.71 | 11.1411.14 | 10.7010.70 | 3.703.70 | 1.431.43 | 2.032.03 | |
| 12. | Waaree Renewable Technologies LtdWAAREERTL | Renewable EnergyRenewable Energy | 9,717.729,717.72 | 931.30931.30 | 20.3020.30 | -0.08-0.08 | -8.30-8.30 | 4.724.72 | -10.60-10.60 | 21.3621.36 | 65.3665.36 | 128.73128.73 | -- | 0.060.06 | 2.762.76 | |
| 13. | Borosil Renewables LtdBORORENEW | HousewaresHousewares | 8,226.058,226.05 | 585.10585.10 | 63.7363.73 | 0.770.77 | -5.09-5.09 | 14.6914.69 | -4.35-4.35 | 8.238.23 | -7.35-7.35 | 13.1313.13 | -- | 0.250.25 | 2.952.95 | |
| 14. | KPI Green Energy LtdKPIGREEN | Renewable EnergyRenewable Energy | 7,757.647,757.64 | 392.45392.45 | 16.2916.29 | 0.580.58 | -0.98-0.98 | -4.03-4.03 | -21.64-21.64 | 2.952.95 | 18.4418.44 | 21.8521.85 | 0.270.27 | 0.560.56 | 2.902.90 | |
| 15. | Sterling and Wilson Renewable Energy LtdSWSOLAR | Renewable Energy Equipment & ServicesRenewable Energy Equipment & Services | 4,863.974,863.97 | 208.27208.27 | -15.72-15.72 | 0.160.16 | -14.81-14.81 | 13.4913.49 | -26.92-26.92 | 7.477.47 | -37.60-37.60 | -8.71-8.71 | -- | 1.831.83 | 3.043.04 | |
| 16. | Websol Energy System LtdWEBELSOLAR | Renewable Energy Equipment & ServicesRenewable Energy Equipment & Services | 4,298.654,298.65 | 99.0199.01 | 14.1914.19 | -0.76-0.76 | -2.07-2.07 | 27.2027.20 | -26.22-26.22 | 15.4615.46 | 80.2280.22 | 87.6087.60 | 0.250.25 | 0.550.55 | 4.174.17 | |
| 17. | BF Utilities LtdBFUTILITIE | Renewable EnergyRenewable Energy | 2,176.622,176.62 | 577.85577.85 | 976.06976.06 | -0.44-0.44 | -7.10-7.10 | 12.9212.92 | -21.21-21.21 | 2.072.07 | 16.5716.57 | 0.280.28 | -- | 0.790.79 | 3.213.21 | |
| 18. | K.P. Energy LtdKPEL | Renewable EnergyRenewable Energy | 2,052.932,052.93 | 311.15311.15 | 11.3211.32 | 2.762.76 | -10.36-10.36 | 6.216.21 | -37.75-37.75 | 6.586.58 | 46.4646.46 | 46.7846.78 | 0.290.29 | 0.810.81 | 2.922.92 | |
| 19. | Solex Energy LtdSOLEX | Industrial MachineryIndustrial Machinery | 1,015.001,015.00 | 939.60939.60 | 10.5710.57 | 0.170.17 | -13.37-13.37 | -5.56-5.56 | -34.06-34.06 | 6.286.28 | 40.4640.46 | 69.2669.26 | -- | 0.910.91 | 3.873.87 | |
| 20. | Zodiac Energy LtdZODIAC | Renewable Energy Equipment & ServicesRenewable Energy Equipment & Services | 372.60372.60 | 245.90245.90 | 17.6817.68 | -2.13-2.13 | -9.98-9.98 | -0.89-0.89 | -43.88-43.88 | 3.863.86 | 27.7127.71 | 23.2423.24 | 0.300.30 | 1.811.81 | 3.223.22 |
Disclaimer: Please note that the above table is for informational purposes only, and is not recommendatory. Please do your own research or consult your financial advisor before investing. The data is derived from Tickertape Stock Screener and is subject to real-time updates.
Selection criteria: Companies that are associated with the solar energy sector in India, based on publicly available information. Sorted based on market capitalisation.
Selection criteria: Companies that are associated with the solar energy sector in India, based on publicly available information. Sorted based on market capitalisation.
Union Budget 2026-27 Updates Affecting the Solar Energy Sector in India
The Union Budget 2026–27 included specific government-approved provisions that influence the solar energy value chain, particularly through tariff measures and customs duty exemptions to strengthen domestic manufacturing competitiveness and reduce input costs.
- Exemption of Basic Customs Duty (BCD) on imported sodium antimonate: The Budget proposed to exempt basic customs duty on the import of sodium antimonate for use in the manufacture of solar glass, an important input in PV modules, which can help lower upstream costs in the solar manufacturing value chain.
- Continuation of customs duty relief for critical clean-tech inputs: As part of broader energy transition support, the Budget extended BCD exemptions on capital goods used for manufacturing lithium-ion cells and related equipment, which indirectly supports solar plus storage deployment and makes solar projects more cost-effective.
- Proposals aimed at supporting renewable energy and energy security: The official Budget proposals reiterated customs relief measures and tariff rationalisation designed to support energy transition technologies, including renewables, storage and critical mineral processing, which form part of the enabling environment for solar energy expansion.
How to Invest in Solar Energy Stocks?
Investing in solar energy in India using Tickertape is a straightforward process. Tickertape is a powerful stock analysis and screening tool that helps you make informed investment decisions. Here’s how you can use Tickertape to invest in solar energy stocks in India:
- Sign Up and Log In: You can create an account on the Tickertape or log in if you already have one.
- Search for “Solar Stocks”: Go to Tickertape Stock Screener and search for solar-energy related stocks in the sub-category.
- Use Filters: You can apply over 200 filters to get stocks sorted based on criteria like market cap, P/E ratio, or returns. You can create your own custom filter, in case your preferred parameters are not available. This can help you narrow down the top solar and renewable energy stocks in India.
- Analyse Stock Data: Tickertape provides comprehensive data on each stock, including financials, performance metrics, future projections, red flags, and more. You can review this data to assess each company’s health and potential in-depth.
- Add to Watchlist: You may keep track of potential investments by adding them to your watchlist.
- Invest Through Your Broker: Once you’ve decided on a stock, you can place a buy order through your brokerage account linked to Tickertape.
You can stay updated with each of your favourite stocks’ alerts and announcements with Tickertape Alerts. Further, you can analyse your overall portfolio and potential red flags in it by connecting it to Tickertape. Check out detailed analysis of your portfolio now!
Overview of the Top Solar Energy Sector Stocks
Reliance Industries Ltd
Reliance Industries, founded in 1966, is a diversified conglomerate with businesses spanning energy, petrochemicals, retail, and telecom. It operates Jio and Reliance Retail and plays a major role in India’s industrial and consumer sectors.
NTPC Ltd
NTPC, established in 1975, is India’s largest power generation company. It focuses on coal, gas, hydro, and renewable energy projects and supports the country’s electricity needs through large-scale power plants.
Adani Green Energy Ltd
Adani Green Energy, founded in 2015, develops and operates renewable energy projects across India. It focuses on utility-scale solar and wind assets and is part of the Adani Group’s clean energy portfolio.
Solar Industries India Ltd
Solar Industries, established in 1995, manufactures industrial explosives and defence products. It serves the mining, infrastructure, and defence sectors and has expanded into global markets over the years.
Tata Power Company Ltd
Tata Power, founded in 1915, is one of India’s oldest and largest integrated power companies. It operates in generation, transmission, distribution, and clean energy, with a growing focus on solar and EV charging solutions.
What are Solar Energy Stocks?
Solar stocks in India are shares of listed companies that participate in the solar energy value chain. This includes companies that generate electricity from solar power plants and sell it under long-term power purchase agreements, companies that manufacture solar panels, cells, modules, and related equipment, companies that provide EPC (engineering, procurement, and construction) services for solar projects, solar glass manufacturers whose products are critical for panel production, and financing companies that provide project loans to solar developers.
About the Solar Sector in India
- India's solar capacity has grown from 2.6 GW in 2014 to approximately 143.6 GW by early 2026. India is now among the world's largest solar power producers.
- The country added 37,945 MW of new solar capacity in 2025, marking its highest annual solar capacity addition. Solar energy accounts for over 52% of India's total installed renewable energy capacity.
- Utility-scale solar projects have expanded across states such as Rajasthan, Gujarat, Andhra Pradesh, Karnataka, and Madhya Pradesh. India has set a target of 500 GW of non-fossil fuel power capacity by 2030. Solar energy is expected to contribute around 280 GW to 300 GW to this target.
- The Production-Linked Incentive scheme for solar module manufacturing has an outlay of ₹19,500 cr. The PLI scheme supports domestic solar panel manufacturers, including companies such as Waaree Energies and Premier Energies.
- India's solar equipment manufacturing capacity crossed 60 GW of modules and 20 GW of cells in 2025. This growth in domestic manufacturing has helped reduce dependence on solar equipment imports.
About the Solar Sector in India
India’s solar energy sector is rapidly growing. By 2030, the country plans to achieve 500 GW of renewable capacity, with solar energy playing a central part. As the market expands, solar stocks provide exciting opportunities for investors. But to benefit, you need to understand how the solar sector operates and what affects its growth.
Features of Solar Energy Stocks in India
Rapid Sector Growth
India’s solar capacity is rising quickly. The country plans to increase its capacity from around 79 GW today to nearly 195 GW over the next five years. The sector is growing at about 19.8% annually, making it one of the fastest-growing energy industries in India.
Expanding Market Size
India’s domestic solar energy market generated roughly USD 10.4 bn in 2023. By 2030, experts expect this market to reach around USD 24.9 bn, showing strong and steady growth.
Strong Government Support
Government initiatives like the National Solar Mission and various state-level programs encourage large-scale solar projects and investments in solar manufacturing. These efforts create a positive environment for solar companies and their stocks.
Stable Demand from Long-term Contracts
Many Indian solar developers sign long-term power purchase agreements (PPAs) with state agencies. These contracts guarantee steady and predictable revenues, reducing financial risk for solar companies.
Vertical Integration Advantages
Several leading solar companies in India are vertically integrated; they manufacture solar modules, develop projects, and manage operations. This structure gives them cost advantages and helps them benefit from government incentives aimed at boosting domestic production.
Advantages of Investing in Solar Energy Stocks
Strong Sector Growth
India’s solar capacity has expanded from 2.82 GW in March 2014 to 150.26 GW as of 31 March 2026. In FY26, India added 44.61 GW of solar capacity, the highest annual addition so far.
Large Capacity Target
India has set a target to reach 500 GW of non-fossil fuel-based power capacity by 2030. Solar energy is expected to remain a major contributor to this clean energy capacity expansion.
Rooftop Solar Expansion
India’s solar capacity includes 25.73 GW of rooftop solar and 14.10 GW from KUSUM and off-grid projects as of 31 March 2026. This shows growth across both utility-scale and distributed solar segments.
Policy Support
The Union Budget 2026-27 allocated ₹30,539 cr to the solar energy sector, including ₹22,000 cr for PM Surya Ghar Muft Bijli Yojana and ₹5,000 cr for PM-KUSUM.
Domestic Manufacturing Push
India’s solar module manufacturing base has expanded sharply. ALMM-listed solar module capacity reached 119.8 GW by October 2025, supporting the domestic solar equipment ecosystem.
Multiple Business Segments
Solar energy stocks may include companies involved in power generation, EPC, solar modules, solar cells, rooftop solar, storage, transmission, and project development. This gives the sector exposure to different parts of the solar value chain.
Risks Associated With Investing in Solar Energy Stocks
Price Fluctuations in Raw Materials
Key components such as PV cells, modules, and inverters often depend on global supply chains. Changes in international prices or shortages can impact the financial performance of solar companies.
Competition From Global Players
The sector faces strong competition from international manufacturers, especially in modules and components. This can put pressure on pricing and margins for Indian companies.
Project Execution Challenges
Large solar projects require land approvals, grid connectivity, and long development cycles. Delays at any stage can affect revenue and overall project performance.
Variability in Solar Power Generation
Solar energy output depends on weather conditions and seasonal patterns. This variability can affect power generation companies that rely solely on solar output.
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Factors to Consider When Investing in Solar Energy Stocks
Company’s Business Model
Solar companies operate in different areas such as manufacturing, EPC services, rooftop solutions, or power generation. Understanding what the company does helps you know how it earns revenue.
Manufacturing Capacity and Technology
Module, cell, and inverter manufacturers depend on efficient technology and scale. Checking the company’s production capacity and focus on new technologies is important for long-term operations.
Policy Environment
Government schemes, incentives, duties, and import restrictions can affect the sector. Companies often perform better when policies support domestic manufacturing and project execution.
Diversification of Projects
Companies working across multiple states, customer segments, or business lines (utility-scale, rooftop, manufacturing) may be better positioned against regional or demand-based changes.
Conclusion
The country has already crossed 125 GW of installed solar capacity and recently achieved a historic moment where renewables met 51.5% of national electricity demand in a single day (29 July 2025). As India moves towards its long-term renewable energy targets, solar remains a major component of the country’s clean-energy transition. However, there are risks such as policy changes, raw material price fluctuations, project delays, and competition from global manufacturers that can affect solar energy sector stocks. Understanding these risks, along with the sector’s growth drivers, helps build a balanced view of solar energy stocks in India.
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Frequently Asked Questions on Solar Energy Stocks
What are solar energy stocks in India?
Solar energy stocks in India represent shares of companies involved in the solar power sector. These companies engage in activities such as manufacturing solar panels, developing solar power projects, providing installation services, and supplying related components. Investing in these stocks lets investors participate in the growth of renewable energy, particularly solar power, which plays a key role in India's transition to sustainable energy sources.How to invest in solar energy sector stocks in India?
Here’s how you can invest in solar stocks:- Go to the Tickertape Stock Screener
- Open Solar Stocks Screener
- Analyse and sort the solar energy stocks using over 200 filters, including valuation ratios, financials, technical indicators, and more, based on your investment thesis
- Review the filtered list and identify stocks that align with your risk appetite, return expectations, and investment goals
- Once you shortlist the stocks, click and Place Order to invest in your preferred solar energy companies in India.
Disclaimer: Please do your own research or consult your financial advisor before investing
What are some of the top solar energy stocks companies listed on NSE?
As of 18th June 2026, as per market capitalisation, the top solar energy stocks in India include:- Reliance Industries Ltd
- NTPC Ltd
- Adani Green Energy Ltd
- Solar Industries India Ltd
- Tata Power Company Ltd
Disclaimer - The list is for educational purposes only and not a recommendation. Please do your own research or consult your financial advisor before investingWhat are the factors affecting solar energy stocks' prices?
Several factors influence the stock prices of solar energy companies in India.- Government Policies and Incentives Subsidies, tax benefits, and supportive policies increase the profitability of solar companies
- Technological Advancements Innovations in solar technology lead to cost reductions and better efficiency
- Global Supply Chain Dynamics Availability and prices of raw materials like silicon affect manufacturing costs
- Competition from Traditional Energy Sources Fluctuations in fossil fuel prices influence solar energy competitiveness
- Economic Conditions Macroeconomic factors including interest rates and inflation impact investment in the renewable sector
What are the top 10 solar energy stocks in India?
As of 18th June 2026, the top 10 solar energy stocks in India as per market cap include:- Reliance Industries Ltd
- NTPC Ltd
- Adani Green Energy Ltd
- Solar Industries India Ltd
- Tata Power Company Ltd
- JSW Energy Ltd
- Waaree Energies Ltd
- NHPC Ltd
- Torrent Power Ltd
- SJVN Ltd
Disclaimer - The list is for educational purposes only and not a recommendation. Please do your own research or consult your financial advisor before investingWhat is the future projection of Solar energy stocks?
In FY 2024–25, the country added a record 23.83 GW of solar capacity and reached a total of 105.65 GW. The government targets 500 GW of non-fossil fuel energy capacity by 2030, and solar energy is expected to contribute significantly. Supportive policies, declining costs, and rising demand for clean energy drive this growth. However, challenges such as land acquisition and grid integration need solutions to maintain this momentum
Disclaimer - This is only for educational purposes based on major financial research reportsHow to choose solar energy stocks for investing?
Solar energy stocks may include module manufacturers, EPC service providers, or utility-scale developers. Installed capacity, module cost trends, and government incentives shape the sector’s outlook as India pursues ambitious renewable energy targets
Disclaimer: This is not a recommendation. Please do your own research or consult your financial advisor before investingDo solar energy stocks offer regular dividends?
Dividend policies differ among solar energy companies. NHPC Ltd has maintained a healthy dividend payout. Companies like Adani Green Energy Ltd, in growth stages, may reinvest profits and skip regular dividends. Investors should check company announcements and dividend history for details. Disclaimer: This is not a recommendation. Dividend data is sourced from Tickertape Stock Screener.Are solar stocks a good investment for the long term?
Falling panel costs and national solar targets support the growth of solar energy. However, margins may stay tight due to competition, import reliance, and policy uncertainty on duties. It’s advised for investors to do thorough research before investing.
Disclaimer: This is not a recommendation. Please do your own research or consult your financial advisor before investing.Are there any listed solar panel manufacturers in India?
Yes, India has listed solar panel and solar module manufacturers such as Waaree Energies Ltd, Premier Energies Ltd, Vikram Solar Ltd, Insolation Energy Ltd, Websol Energy System Ltd, Alpex Solar Ltd, and Swelect Energy Systems Ltd. Some companies may focus on solar modules, while others operate across solar cells, panels, EPC, or related solar manufacturing segments.
Disclaimer: This is not a recommendation. Please do your own research or consult your financial advisor before investing.Are there any solar penny stocks in India?
Yes, as of 18th June 2026, there are a few low-priced listed companies in India with exposure to solar or renewable energy, such as Gensol Engineering Ltd, Veer Energy & Infrastructure Ltd, and Tarini International Ltd. However, the price may change frequently, so investors must check the latest price, market capitalisation, trading volume, financials, and company filings before analysing them.
Disclaimer: This is not a recommendation. Please do your own research or consult your financial advisor before investing.
