Solar Panel Stocks to Buy in 2024 amid rising demand of Rooftop Solar Panels

The government launch the Suryaoday Yojna in the budget providing free electricity to those using solar panels on their rooftop. They also allowed them to sell the extra energy to earn some money. The scheme will save the expenses of a lot of the households spent on the electricity bills. We will share details about the solar penal stocks to buy amid the solar panel scheme in India. With the increase in solar panel installation, the demand in the energy sector will increase leaving an opportunity to invest in the related stocks.

Solar Panel Stocks

Stocks to Buy Amid Solar Panel Schemes In India

  1. Adani Green Energy
  2. Tata Power Company Limited (Tata Power Solar)
  3. Solar Industries India
  4. First Solar
  5. Sunrun
  6. NHPC Limited
  7. Websol Energy Systems Limited
  8. Gita Renewable Energy
  9. Urja Global
  10. Surana Solar Limited

These stocks are from India’s top solar power manufacturing stocks. Several companies have entered the solar market recently. However, the ones standing old in the market are getting the first-mover advantage. The government is giving preference to a lot of solar companies for their upcoming solar projects. The rooftop solar panel scheme is the recent one. PM Modi’s Yojna will help the households save their money. All middle-class families will have an advantage from the scheme.

We will share a little about the schemes as well. The government will support the solar panels and rooftop schemes. A total of ₹75,000 will be spent on the project aiming to provide free electricity to 1 Crore household. India is growing towards growth and the implementation of solar utilization will lead to the country’s shift to renewable energies.

Petroleum, diesel, coal, and other nonrenewable sources are discouraged slowly in the country. They are reducing in levels and won’t be available for use after a few years. The shift has already started being observed.

Many companies sifted for renewable options. Following are the top 3 solar stocks from the above-mentioned stocks.

  1. Adani Green Energy
  2. Tata Power Company Limited
  3. Solar Industries

Adani Green Energy’s stock price has a good rise in the shares. They are going up by 2.45% today. The current share price is ₹1860. Apart from that Tata Power Company’s solar department is also growing with the current stock value of ₹367.90 per share. Solar Industries India Limited is going on a share price of ₹7,083.55 per share with a rise of 2.25% today. We hope you get enough details about Top Solar Stocks amid the new rooftop solar scheme above.

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