Best Solar Energy Stocks in India 2023

The topic of climate change has been widely discussed, and developing economies are equally worried about it. Because of these environmental worries, using clean and renewable energy sources is becoming increasingly important.

The use of renewable energy sources is also strongly supported by the Indian government, which is taking into account the negative impacts of fossil fuels. This motivates businesses in India to focus on alternative energy sources like solar power.

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In this blog, we have mentioned a list of Indian solar energy stocks and the prospects for solar energy firms in this post.

So, read on to know more about the same!

The Solar Energy Industry: An Overview

The solar energy sector creates and installs equipment to harness solar energy and transform it into electric power.

Due to its size and great promise for growth and development, India’s energy consumption is anticipated to rise more than any other nation in the upcoming decades.

This rising energy demand must thus be satisfied mainly by low-carbon, renewable sources. In the global fight against climate change, India’s statement that it plans to attain net zero carbon emissions by 2070 and to fulfill 50% of its power demands from renewable sources by the end of 2030 is a watershed moment.

Also, by the next few years, capacity expansion additions are anticipated to double in India, the market with the highest growth in renewable power.

The government’s enhanced backing and the economy’s improvement have made the industry more appealing to investors. Renewable energy will be crucial as India attempts to satisfy its energy needs, which are anticipated to total 15,820 TWh by 2040.

Best Solar Energy Stocks in India 2023

Let us review the best Solar Energy Stocks in India of the year now that we understand this industry better.

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

Factors to Consider Before Investing in Solar Energy Companies in India

The following is a summary of essential factors you should think about before investing in the top solar energy stocks in 2023-

• The Market for Solar Energy is Expanding Quickly

The solar energy sector has rapidly expanded in recent years, which is anticipated to continue.

Solar energy is currently the most affordable source of electricity ever, according to research by the International Energy Agency. As a result, solar panel demand has increased, and the market is expected to expand rapidly.

The rise in nations and businesses adopting renewable energy objectives also contributes to this expansion.

• In A Choppy Market, Solar Energy Stocks Might Do Well

In a choppy market, renewable energy companies may frequently do well.

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This is because businesses in the renewable energy sector often have long-term objectives, including lowering emissions and enhancing sustainability. So, solar stocks may be considered a reliable investment choice in the stock market.

Moreover, equities related to solar energy have been doing well recently.

• Diversity In Your Portfolio May Be Achieved Using Solar Energy Stocks

You may lower your total risk by diversifying your portfolio with investments in the best solar energy stocks.

In addition, you may be able to offset any risks from several other investments by adding companies from an expanding sector with a promising future.

Also, there is no link between solar energy equities and other stocks and asset types like securities and real estate. Therefore, adding equities related to the solar energy industry to your portfolio may help lower your investments’ real danger and volatility.

• Governments Are Encouraging the Expansion of Solar Power

Several governments are introducing incentives and regulations worldwide to encourage the expansion of solar energy.

Government-enacted rules may help boost customer needs for solar energy, spurring the sector’s further development. Also, governments are establishing renewable energy goals and spending money on infrastructure.

• Possibility of High Returns

Investing in solar energy companies is a brilliant idea to benefit from the rising demand for renewable energy.

Solar energy stocks offer the potential for substantial profits with the transition to a more sustainable future, significantly as the industry expands.

Due to rising solar energy demand, rising efficiency, and falling costs of solar technology, solar energy stocks can potentially provide investors with significant returns.

In addition, the need for solar panels and associated products will expand as more people and businesses switch to solar energy, resulting in higher sales for solar enterprises.

• These Stocks Have Excellent Long-Term Potential

Solar energy has significant long-term promise as we continue to struggle with the impacts of global warming and the requirement for sustainable energy sources. As a result, you may invest in a sector with a promising future by buying stocks in the solar energy sector.

By 2050, solar energy is expected to be the primary source of electricity, according to the International Energy Agency.

The decline in costs, technological advancements, and rising demand contribute to this increase.

Solar Energy Stocks in India Listed in Stock Market: An Overview

Following are some of the best solar energy companies in India-

1) Tata Power Company

Electricity is produced, transmitted, and distributed by the integrated power utility known as Tata Power Company Limited. Thermal power plants, hydro, solar, and wind power-creating facilities are part of its power generation infrastructure.

Moreover, the Business provides services for project management, technical and quality audits, coal and freight logistics, consulting, gas-insulated switchgear hot-spot testing, and operation and maintenance.

Railways, ports, refineries, textile mills, fertilizer factories, municipal corporations, water pumping facilities, and other significant sectors are just a few of the giant electricity users it serves.

2) Suzlon Energy

Suzlon Energy Limited offers renewable energy solutions, which provide complete solutions that address every aspect of wind energy projects. In addition, the Business provides complete turnkey solutions, starting with design and ending with asset life-cycle management.

Along with producing power, selling solar panels, and offering entirely produced castings, forgings, and foundry parts, Suzlon also manufactures electricity. In addition, it improves scheduling and forecasting, increases turbine energy output, and makes proactive field condition monitoring possible.

Using SCADA (Supervisory Control and Data Acquisition) technology, Suzlon provides remote monitoring for more than 9,700 wind turbines worldwide.

3) WAA Solar

Waa Solar Limited was founded in India and worked to produce solar energy.

The company establishes solar power projects and finances particular purpose vehicle (SPV) associate and subsidiary businesses involved in solar power generation.

The Company’s engineering, procurement, and construction (EPC) efforts are concentrated on solar projects.

The Company’s projects include a Solar Photovoltaic (PV) Grid Interactive Power Plant with a capacity of approximately 10 megawatts (MW) in the village of Nayka in Taluka-Sami, District Patan, a Solar Power Plant with a peak capacity of about 100 kilowatts (KWP) at Raja Bhoj Airport in Bhopal, a Solar PV Grid Interactive Power Plant with a total of approximately 10.42 MW on a 20-acre site

4) Websol Energy System

The leading Business of India-based Websol Energy System Limited is the production of solar cells and modules.

The Business is engaged in the production of solar photovoltaic cells and modules. Almost 94.43 gigawatts worth of renewable energy projects were made there (GW). Products from the firm are utilized in domestic and international commercial and industrial settings.

Around 250 MW of fully automated module lines and about 250 MW of cells comprise its manufacturing capability. Sector-II of Falta SEZ, in Falta, West Bengal, is where the company’s facility is situated.

5) Synergy Green Industries

The Indian firm called Synergy Green Industries Ltd works in the foundry industry.

The company manufactures massive precision castings for wind turbines, among other things. Moreover, the company produces and sells steel castings in raw and machined forms, as well as graded gray iron and spheroidal graphite iron.

Furthermore, the company manufactures and sells steel castings in raw and machined forms, as well as graded gray iron and spheroidal graphite iron.

In addition, the main Axle, Hollow Shaft, DV- Casing, Diffuser, Cone Head, Eccentric23, UpperFrame, Pump Casing, Rear Wheel, MainFrame, Valve Body, Pump Casing, Wedge, Wall Body, Main bearing Housing, Cannon Tube, Hub, Gear Box Housing, Main Foundation, Front Wheel, and Base Frame are among the company’s products.

6) Ujaas Energy

Ujaas Energy Limited is an Indian company specializing in solar energy solutions.

Under its flagship brand UJAAS, the company builds, manages, owns, and maintains a diverse portfolio of solar energy power facilities. The Business operates via four segments-

Electric Vehicle (EV), Un-allocable, Manufacture and Selling of Solar Power plants, and Solar Power Generation and Maintenance. Ujaas Park, Ujaas My Site, Ujaas Home, and UJAAS are among the company’s offerings.

For investors who wish to become a solar power generator under renewable energy certificates, special tariffs, average power purchase costs (APPC), or captive mechanisms, Ujaas Park offers a comprehensive turnkey solution.

7) Surana Solar

The corporation, with its headquarters in India, Surana Solar Limited, manufactures solar photovoltaic modules, generates wind and solar energy, and trades various solar-related goods.

The Business is divided into the Solar Products and Wind Power sectors. The Solar Products division does the production and marketing of solar photovoltaic modules. The industry for wind power is responsible for producing solar and wind energy.

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Solar lighting, solar lanterns, and photovoltaic modules are among the items the company offers. In addition, home Lighting Systems and Solar Street Lighting are among the company’s solar lighting products.

The company also engages in turnkey megawatt scale engineering, procurement, and construction of power projects.

8) Urja Global

The developer and operator of renewable energy, Urja Global Limited, works 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, are all activities carried out by the company.

E-rickshaws, batteries, solar inverters, LED lights, PV modules, water heaters, solar lanterns, power packs, home lighting, and solar charge controllers are just a few of the company’s goods. Its E-Rickshaw lineup consists of the Urja Kendra Neo, Urja Kendra Leo, Urja Dlx, and Urja Eco.

In addition, solar batteries, E-rickshaw batteries, automotive batteries, and inverter batteries are some of their options.

9) Intersolar

Since 1997, Inter Solar Systems has made a reputation for itself as one of the most influential businesses in its industry, focusing on the extensive use of solar energy in the goods it produces.

The company employs people with a wealth of knowledge and experience, and it also benefits from the addition of young talent as a significant source of new ideas and enthusiasm.

Due to its consistent efforts and innovation in solar energy equipment, Inter Solar Systems has quickly become one of the market leaders in the nation.

10) Gita Renewable Energy

Gita Renewable Energy Limited’s principal business activities are producing and distributing electricity.

The Company’s significant areas of concentration include the operation and maintenance of the two megawatts (MW) solar facility in Harahan Palli. In addition, the company works with solar power facilities, operating and maintaining them.

The Company sold properties, plants, machinery, equipment, and liabilities related to waste heat recovery plants and coal-based thermal plants to the related party during the review period for a lump sum payment, except other assets and liabilities sold by way of slump sale as defined in Section 2 (42 C) of the Income Tax Act of 1961.

Conclusion

In conclusion, regardless of the difficulties, India’s solar energy industry and solar power stocks are headed for expansion.

Yet, as people’s concerns about the environment grow, so will the need for renewable energy sources.

Therefore, check the firm’s finances and the potential for development in the industry and company before investing in any solar-related stocks.

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Disclaimer: This blog is solely for educational purposes. The securities/investments quoted here are not recommendatory.

To read the RA disclaimer, please click hereResearch Analyst – Himanshu Sinha

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