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Best Solar Energy Stocks in India for 2025

On 29th July 2025, renewables such as solar, wind, and hydro met 51.5% of India’s electricity demand in a single day, marking the first time green energy supplied more than half of the country's power needs. This milestone highlights the rising role of solar power in India’s energy mix. As the country expands its renewable capacity and strengthens domestic manufacturing, solar energy stocks in India continue to gain attention.

Top Solar Energy Stocks in 2025

Solar Energy Stock Screener

Solar Energy Stock Screener: Analyse & Filter Indian Stocks on Tickertape

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last updated at 6:30 AM IST 
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 LtdRELIANCEOil & Gas - Refining & MarketingOil & Gas - Refining & Marketing20,82,376.8920,82,376.891,535.601,535.6029.9029.90-0.21-0.213.553.557.877.8717.3217.322.062.067.207.208.718.710.360.360.370.371.571.57
2.NTPC LtdNTPCPower GenerationPower Generation3,13,153.833,13,153.83322.95322.9513.3713.370.000.00-3.54-3.54-1.91-1.91-13.36-13.361.641.6413.1513.1510.7710.772.592.591.311.311.691.69
3.Adani Green Energy LtdADANIGREENRenewable EnergyRenewable Energy1,66,793.061,66,793.061,013.401,013.40115.51115.510.080.08-8.86-8.860.860.86-19.63-19.637.397.397.227.228.218.21--3.553.553.323.32
4.Tata Power Company LtdTATAPOWERPower Transmission & DistributionPower Transmission & Distribution1,22,589.201,22,589.20384.45384.4530.8730.870.210.21-5.49-5.49-2.34-2.34-9.68-9.682.882.889.819.819.959.950.650.651.481.481.911.91
5.Solar Industries India LtdSOLARINDSCommodity ChemicalsCommodity Chemicals1,16,143.991,16,143.9912,941.0012,941.0096.0396.030.830.83-9.06-9.06-23.01-23.0121.2521.2525.5325.5330.3230.3230.9630.960.080.080.210.212.592.59
6.Waaree Energies LtdWAAREEENERRenewable Energy Equipment & ServicesRenewable Energy Equipment & Services89,416.0589,416.052,984.302,984.3047.8847.88-4.00-4.00-9.25-9.253.593.599.639.639.329.3227.1727.1724.8824.88--0.120.123.763.76
7.JSW Energy LtdJSWENERGYPower GenerationPower Generation82,120.5682,120.56459.85459.8542.0942.09-2.20-2.20-12.08-12.08-9.67-9.67-29.08-29.082.822.827.797.795.775.770.430.431.731.732.782.78
8.NHPC LtdNHPCRenewable EnergyRenewable Energy77,176.0077,176.0076.8976.8925.6725.670.080.08-9.73-9.73-11.73-11.73-6.17-6.171.711.716.756.756.446.442.492.490.880.882.282.28
9.Torrent Power LtdTORNTPOWERPower Transmission & DistributionPower Transmission & Distribution65,618.3265,618.321,299.701,299.7021.9621.96-0.19-0.19-2.65-2.65-8.41-8.41-22.07-22.073.603.6019.4019.4014.8914.891.461.460.490.492.522.52
10.SJVN LtdSJVNRenewable EnergyRenewable Energy29,862.5129,862.5175.3875.3836.4336.43-0.80-0.80-13.75-13.75-23.63-23.63-35.69-35.692.102.105.805.804.474.471.921.921.901.902.652.65
11.CESC LtdCESCPower GenerationPower Generation23,243.8823,243.88175.87175.8716.9816.980.300.30-3.01-3.014.154.15-5.76-5.761.841.8411.1411.1410.0410.042.572.571.431.432.532.53
12.Waaree Renewable Technologies LtdWAAREERTLRenewable EnergyRenewable Energy11,064.7311,064.731,009.201,009.2048.2848.28-2.85-2.85-16.44-16.44-7.57-7.5717.8617.8624.3224.3265.3665.3662.1762.170.090.090.060.063.883.88
13.KPI Green Energy LtdKPIGREENRenewable EnergyRenewable Energy8,811.288,811.28441.75441.7527.5727.57-1.06-1.06-17.15-17.15-12.62-12.62-20.56-20.563.353.3518.4418.4413.0213.020.180.180.560.563.603.60
14.Borosil Renewables LtdBORORENEWHousewaresHousewares8,105.728,105.72567.15567.15-116.53-116.53-1.91-1.91-12.90-12.903.993.9916.2816.288.118.11-7.35-7.35-3.59-3.59--0.250.253.513.51
15.Sterling and Wilson Renewable Energy LtdSWSOLARRenewable Energy Equipment & ServicesRenewable Energy Equipment & Services5,304.675,304.67224.58224.5865.1365.13-1.13-1.13-4.51-4.51-25.80-25.80-56.59-56.595.335.338.368.3618.2018.20--0.940.943.743.74
16.Websol Energy System LtdWEBELSOLARRenewable Energy Equipment & ServicesRenewable Energy Equipment & Services4,593.324,593.32110.43110.4329.6829.681.471.47-8.64-8.64-20.97-20.97-18.15-18.1516.5216.5280.2280.2249.9849.98--0.550.554.294.29
17.K.P. Energy LtdKPELRenewable EnergyRenewable Energy2,555.512,555.51366.95366.9522.1622.16-0.26-0.26-19.09-19.09-35.20-35.20-40.65-40.658.198.1946.4646.4628.5528.550.160.160.810.814.134.13
18.BF Utilities LtdBFUTILITIERenewable EnergyRenewable Energy2,309.402,309.40611.90611.9015.7615.76-0.20-0.20-16.03-16.03-18.01-18.01-34.64-34.642.192.1916.5716.5728.0728.07--0.790.793.843.84
19.Solex Energy LtdSOLEXIndustrial MachineryIndustrial Machinery1,727.971,727.971,563.401,563.4041.1141.11-2.26-2.26-9.41-9.4124.5124.513.983.9810.7010.7040.4640.4628.8628.860.030.030.910.913.943.94
20.Zodiac Energy LtdZODIACRenewable Energy Equipment & ServicesRenewable Energy Equipment & Services494.39494.39322.75322.7524.7624.76-1.27-1.27-10.35-10.35-34.73-34.73-38.01-38.015.125.1227.7127.7117.4417.440.230.231.811.814.014.01
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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.

Budget Updates for the Solar Energy Sector in India

  1. ₹20,000 cr. Allocation: The finance ministry has set aside ₹20,000 cr. to support solar projects under the National Renewable Mission. This funding will help both large-scale and decentralised solar initiatives across the country.
  2. Improving Solar Grid Systems: About ₹1,500 cr. has been earmarked to upgrade the power grid. Better transmission systems will make it easier to manage the rising share of solar power.
  3. PLI Support for Solar Manufacturing: The government has extended the Production-Linked Incentive (PLI) scheme to encourage domestic manufacturing of solar equipment. This step aims to strengthen local production and reduce reliance on imported solar components.

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:

  1. Sign Up and Log In: You can create an account on the Tickertape or log in if you already have one.
  2. Search for “Solar Stocks”: Go to Tickertape Stock Screener and search for solar-energy related stocks in the sub-category.
  3. 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.
  4. 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.
  5. Add to Watchlist: You may keep track of potential investments by adding them to your watchlist.
  6. 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 energy stocks in India are shares of companies that work in the solar power sector. These companies make solar panels, build solar power plants, supply equipment, or generate electricity from solar energy.



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.

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

Growing Renewable Energy Adoption

India continues to expand its solar capacity as part of its clean-energy goals. Increasing installations across utility-scale, rooftop, and commercial projects create steady activity in the sector, and may positively impact the performance of renewable energy stocks in India.

Government Policy Support

Schemes such as the National Solar Mission, PLI incentives, and state-level solar policies support manufacturing, project development, and grid expansion. These initiatives help improve the overall environment for solar companies.

Expanding Domestic Manufacturing

India’s solar module and cell manufacturing capacity has been growing rapidly. Stronger domestic supply chains may improve long-term stability for companies operating in the sector.

Technological Improvements

Advancements in solar panels, inverters, storage, and EPC processes make solar projects more efficient. Companies that innovate in these areas benefit from stronger industry progress.

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

  1. 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.

  2. How to invest in solar energy sector stocks in India?

    Here’s how you can invest in solar stocks:
    1. Go to the Tickertape Stock Screener
    2. Search for solar energy sector stocks
    3. Analyse and sort the solar energy stocks using over 200 filters, including valuation ratios, financials, technical indicators, and more, based on your investment thesis
    4. Review the filtered list and identify stocks that align with your risk appetite, return expectations, and investment goals
    5. Once you shortlist the stocks, click and Place Order to invest in your preferred solar energy stocks

    Disclaimer: Please do your own research or consult your financial advisor before investing

  3. What are some of the top solar energy stocks companies listed on NSE?

    As of 13th November 2025,a s per market capitalisation, the top solar energy stocks in India include:
    1. Reliance Industries Ltd
    2. NTPC Ltd
    3. Adani Green Energy Ltd
    4. Solar Industries India Ltd
    5. 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 investing

  4. What are the factors affecting solar energy stocks' prices?

    Several factors influence the stock prices of solar energy companies in India.
    1. Government Policies and Incentives: Subsidies, tax benefits, and supportive policies increase the profitability of solar companies
    2. Technological Advancements: Innovations in solar technology lead to cost reductions and better efficiency
    3. Global Supply Chain Dynamics: Availability and prices of raw materials like silicon affect manufacturing costs
    4. Competition from Traditional Energy Sources: Fluctuations in fossil fuel prices influence solar energy competitiveness
    5. Economic Conditions: Macroeconomic factors including interest rates and inflation impact investment in the renewable sector

  5. What 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 reports

  6. How 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 investing

  7. Do 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.

  8. 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.

Disclaimer: This article is for informational purposes only. The content of the article including securities/investment products mentioned if any, should not in any manner be construed as an investment advice, recommendation, offer, solicitation to buy/hold/sell any securities/investment products. The securities quoted if any, are for illustration only and are not recommendatory. Investment in securities market are subject to market risks. Read all the related documents carefully before investing. Please consult a SEBI-registered financial advisor before investing.