India has huge solar energy generation potential. With about 300 sunny days per year, the nation could generate 748 GW of solar energy. India’s solar energy industry has expanded dramatically in recent years as a result of decreasing solar panel costs, e supportive government policies and rising environmental awareness. By 2026, the nation also hopes to become a significant net exporter of solar energy.
Here are the 5 best solar energy stocks in India in 2024
| Company Name | Market Cap (Rs. crores) | Stock Price (Rs.) |
| NTPC Limited | 3,50,922.35 | 360.60 |
| Adani Green Energy Limited | 2,95,422.06 | 1,864.25 |
| JSW Energy Limited | 1,09,060.75 | 625.95 |
| NHPC Limited | 1,03,564.31 | 103.20 |
| Suzlon Energy Limited | 67,747.23 | 49.90 |
NTPC Limited
NTPC Limited has a market capitalization of Rs. 3,50,922.35 crores and a current stock price of Rs. 360.60. As the largest power-generating company in India, founded in 1975, NTPC generates and wholesales electricity to state power utilities using coal, gas, liquid fuel and other renewable energy sources. In addition, it offers electricity trading, coal mining, project management and supervision, re-gasification, ash utilisation, consultancy services and rural electrification.
Adani Green Energy Limited
One major operator in the green energy sector is Adani Green Energy, which mostly focuses on the generation of solar electricity. With a market capitalization of Rs. 2,95,422.06 crores and a stock price of Rs. 1,864.25, the company has a large number of solar projects in India that are both operational and in the process of being built.
JSW Energy Limited
JSW Energy Limited, an integrated power company based in India, has a market capitalization of Rs. 1,09,060.75 crores and a current stock price of Rs. 625.95. Founded in 1994, the company generates, transmits, and trades energy. It is divided into two segments: a thermal power plant that generates power from coal, lignite, oil, gas, and other thermal sources, and a renewable power plant that utilizes solar, hydro, wind, and other renewable energy sources.
NHPC Limited
NHPC Limited, one of the largest hydropower generating companies, was established in 1975 and has its headquarters in Faridabad. With a market capitalization of Rs. 1,03,564.31 crores and a stock price of Rs. 103.20, NHPC works on wind and solar energy projects in addition to hydropower projects. The main goal of NHPC is to actively plan, promote and oversee the development of integrated, cost-effective hydropower in India and abroad using both conventional and non-conventional energy sources.
Suzlon Energy Limited
Suzlon Energy Limited, a pioneering wind turbine manufacturer in India with a growing presence in the solar energy sector, has a market capitalization of Rs. 67,747.23 crores and a current stock price of Rs. 49.90. The company’s focus on green energy solutions, technological advances and cost competitiveness make it an appealing investment choice for those wishing to add to their renewable energy portfolio.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered as financial advice. The data and figures presented are based on publicly available information and may be subject to change. Before making any investment decisions, it is recommended to conduct thorough research, consult with financial advisors, and consider your individual investment goals and risk tolerance. The author and publisher of this article do not assume any responsibility for any investment decisions made based on the information provided.