Top Solar Panel manufacturers in India listed companies

Solar energy is rapidly becoming a key player in India's renewable energy sector. With the increasing focus on sustainable and green energy, solar panel manufacturers in India are making significant strides.

Solar panel manufacturers in India listed companies are enterprises that are publicly traded and specialize in producing solar photovoltaic (PV) panels. These companies play a crucial role in India's renewable energy sector, contributing to the country's goal of increasing solar energy capacity. They manufacture a variety of solar products, including mono-crystalline and poly-crystalline solar panels, designed for both residential and commercial applications. Some of these companies also engage in the development of complete solar solutions, including solar power plants and solar rooftop systems. By focusing on innovation, quality, and sustainability, these manufacturers support India's transition to cleaner energy and help reduce the nation's carbon footprint.

This article explores some of the leading solar panel manufacturing companies in India that are publicly listed, highlighting their contributions, innovations, and market presence.

What is Solar Panel?

A solar panel is a device that converts sunlight into electricity. It consists of photovoltaic cells, which absorb sunlight and convert it into Direct Current (DC) electricity. The electricity generated by the solar panels can be used to power various devices such as homes, businesses, and appliances.

Components of Solar Panel

Solar panels are composed of several components, including:

• Photovoltaic Cells: These are the main components that convert sunlight into electricity. Each cell is made of two layers of semi-conducting material, typically silicon, and an electric field is created between the two layers. When sunlight hits the cells, it knocks loose electrons, creating a flow of electricity.
• Encapsulant: The encapsulant is a thin layer of material that covers the photovoltaic cells and protects them from damage. It acts as a barrier against moisture, sunlight, and other environmental factors that could compromise the panel's performance.
• Backsheet: The backsheet is a protective sheet that encloses the encapsulant and the back of the solar panel. It serves as a barrier against dust, moisture, and insects, protecting the panel from external damage.
• Frame: The frame is a structural component that holds the solar panels together, providing a support for the entire assembly. It also enhances the panel's durability and allows for easier installation.
• Mounting System: The mounting system is used to attach the solar panels to a structure, such as a building or a roof. It ensures the panels are securely in place and positioned at an angle that maximizes their exposure to sunlight.

Top Solar Panel Manufacturers Companies List by Market Capitalisation

Solar energy has emerged as an important solution to combat climate change as well as meet the energy needs of the world. India has seen significant growth in the solar sector due to abundant sunlight and commitment to renewable energy. Many companies have been at the forefront of this revolution, making high-quality solar panels to harness the power of the sun. Here, we discover the top solar panel manufacturers in India, focusing on listed companies that are driving innovation and sustainability in the solar industry.

1. Adani Green Energy Ltd

• Market Cap: ₹ 302289 Cr.
• Sales (latest quarter): ₹ 2527.00 Cr.
• Net Profit (latest quarter): ₹ 310.00 Cr.
• Quarterly profit growth: -70.67 %
• Exchange: BSE, NSE
• Official Website: adanigreenenergy.com

Adani Green Energy Ltd (AGEL) is a wholly owned subsidiary of Adani Enterprises Limited, the flagship company of the Adani Group. AGEL is a leading renewable energy company in India with a focus on solar and wind power projects.

AGEL was established by the Adani Group in 2015 with a vision to create one of the largest renewable energy platforms in the country. The company started with an initial focus on solar power projects and has since expanded its portfolio to include wind power as well.

AGEL is currently involved in various renewable energy projects across India. Some of its flagship projects include Mundra Solar Power Plant, solar park at Charanka and solar park at Telangana.

2. TATA Power Solar

• Market Cap: ₹ 139556.45 Cr.
• Sales (latest quarter): ₹ 15846.58 Cr.
• Net Profit (latest quarter): ₹ 1045.58 Cr.
• Quarterly profit growth: 12.21 %
• Exchange: BSE, NSE
• Official Website: tatapowersolar.com

Tata Power Solar is a leading solar energy solutions provider in India. The company offers a wide range of solar power products, including solar modules, inverters, and storage solutions. With a strong focus on innovation and sustainability, Tata Power Solar is committed to making solar energy accessible and affordable for all.

Tata Power Solar was established in 1989 as part of the Tata Group. Over the years, the company has expanded its operations and established a strong presence in various regions across India. Tata Power Solar's commitment to renewable energy and sustainability has earned it numerous awards and recognitions in the industry.

Tata Power Solar offers a wide range of solar products and services to meet the diverse energy needs of its customers. The company's product portfolio includes Solar Modules, Inverters, Storage Solutions and EPC Services.

3. Suzlon Energy Ltd

• Market Cap: ₹ 64297.29 Cr.
• Sales (latest quarter): ₹ 2196.21 Cr.
• Net Profit (latest quarter): ₹ 254.12 Cr.
• Quarterly profit growth: 352.16 %
• Exchange: BSE, NSE
• Official Website: suzlon.com

Suzlon Energy Ltd is a leading Indian wind energy company, headquartered in Pune, Maharashtra. It was established in 1995 and is one of the largest wind turbine manufacturers in the world. Suzlon focuses on providing renewable energy solutions to meet the needs of various sectors, including residential, commercial, and industrial.

Suzlon was founded by Tulsi R. Tanti in 1995. Since then, the company has expanded rapidly, establishing a strong presence in both domestic and international markets. Suzlon's commitment to innovation and sustainability has made it a leader in the wind energy industry.

Suzlon offers a wide range of products and services to cater to the wind energy market. Its product portfolio includes wind turbines of various sizes and capacities, ranging from small-scale residential turbines to large utility-scale turbines. Suzlon also provides wind farm development and installation services, as well as operation and maintenance services.

4. Waaree energies ltd

• Market Cap: ₹ 24922.92 Cr.
• Sales (latest quarter): ₹ 876 Cr.
• Net Profit (latest quarter): ₹ 148 Cr.
• Quarterly profit growth: 63.77 %
• Exchange: BSE
• Official Website: waaree.com

Waaree Energies Ltd is a leading Indian solar manufacturing company that offers a wide range of solar energy solutions. With a strong focus on innovation and sustainability, Waaree Energies is committed to providing clean and renewable energy solutions to customers across the globe.

Waaree Energies was founded in 1989 as a manufacturer of solar panels. Over the years, the company has expanded its operations and ventured into various segments of the solar industry. Today, Waaree Energies is recognized as a leading manufacturer of solar panels, solar modules, and other solar products.

Waaree Energies offers a wide range of solar energy products, including Solar panels, Solar modules, Solar inverters, Solar batteries, Solar EPC services and Solar rooftop solutions.

5. Websol Energy System Ltd

• Market Cap: ₹ 2346.67 Cr.
• Sales (latest quarter): ₹ 24.87 Cr.
• Net Profit (latest quarter): ₹ -58.57 Cr.
• Quarterly profit growth: -976.47 %
• Exchange: BSE, NSE
• Official Website: webelsolar.com

Websol Energy System Ltd is a leading technology company specializing in the development and deployment of sustainable energy solutions. With a strong commitment to reducing carbon emissions and enhancing energy efficiency, we strive to provide innovative solutions to meet the growing global demand for sustainable energy.

At Websol Energy System Ltd, we take a holistic approach to energy system solutions. Our approach involves combining technical expertise, industry knowledge, and innovative thinking to deliver tailored solutions that meet the unique needs of our customers. By leveraging cutting-edge technologies and collaborating with industry partners, we aim to empower businesses and communities to thrive in a sustainable manner.

Our Products and Services

• Solar Energy Solutions: We offer a diverse range of solar energy solutions, including solar panels, inverters, grid-tie systems, and off-grid systems. Our products are designed to harness the sun's energy efficiently and convert it into usable electricity, reducing reliance on traditional power sources.
• Wind Energy Solutions: Through our expertise in wind energy systems, we provide wind turbines and other components that enable sustainable power generation from wind. Our wind turbines are highly efficient, producing clean energy while minimizing environmental impact.
• Biomass Energy Solutions: We leverage the power of biomass to produce renewable energy. Our biomass energy solutions include biomass boilers, pellet stoves, and wood chip heating systems, enabling customers to reduce carbon emissions and lower their energy costs.
• Energy Storage Solutions: To optimize energy utilization and provide reliable power, we offer energy storage solutions. Our batteries, power management systems, and control systems help store excess energy for later use, ensuring a consistent power supply during peak demand periods.
• Energy Efficiency Consulting: Our team of energy experts offers comprehensive energy efficiency consulting services. We assist businesses in identifying opportunities for energy savings, implementing sustainability strategies, and optimizing energy usage to reduce costs and protect the environment.

6. Servotech Power Systems Ltd

• Market Cap: ₹ 1692.73 Cr.
• Sales (latest quarter): ₹ 120.79 Cr.
• Net Profit (latest quarter): ₹ 3.20 Cr.
• Quarterly profit growth: -44.92 %
• Exchange: NSE
• Official Website: servotech.in

Servotech Power Systems Ltd is a reputable company specializing in the design, manufacturing, and sales of power systems and components. With a focus on innovation and customer satisfaction, Servotech has established itself as a leader in the field of power electronics.

Servotech Power Systems Ltd was founded in 1980 with a mission to provide reliable and efficient power solutions to various industries. Over the years, the company has gained extensive experience in power electronics, allowing it to develop a wide range of products such as inverters, converters, and control systems.

Servotech Power Systems Ltd offers a wide range of products and services to meet the specific needs of its customers. Some key offerings include Power Inverters, Power Converters, Control Systems, Customized Solutions and Technical Support.

7. Urja Global Ltd

• Market Cap: ₹ 1109 Cr.
• Sales (latest quarter): ₹ 61237 Cr.
• Net Profit (latest quarter): ₹ 12502 Cr.
• Quarterly profit growth: 9.15 %
• Exchange: BSE, NSE
• Official Website: urjaglobal.in

Urja Global Ltd is a leading provider of energy solutions and sustainability services. With a strong focus on innovation, Urja Global is committed to creating a more sustainable and energy-efficient future. With a wide range of service offerings, innovative solutions, and a strong commitment to sustainability, we are well-positioned to assist organizations in meeting their energy and sustainability goals.

Urja Global offers a comprehensive range of services to meet the unique needs of our clients. Some of our key services include Energy Management, Renewable Energy Solutions, Energy Audits, Sustainability Consulting and Carbon Footprint Management.

8. Synergy Green Industries Ltd

• Market Cap: ₹ 466.08 Cr.
• Sales (latest quarter): ₹ 82.31 Cr.
• Net Profit (latest quarter): ₹ 3.25 Cr.
• Quarterly profit growth: -5.25 %
• Exchange: BSE, NSE
• Official Website: synergygreenind.com

Synergy Green Industries Ltd is a leading manufacturer of eco-friendly and sustainable products. With our focus on creating innovative and sustainable solutions, we strive to make a positive impact in the world we live in.

Synergy Green Industries Ltd offers a wide range of products and services to meet the specific needs of its customers. Some key offerings include Renewable Energy Systems, LED Lighting Solutions, Water Conservation Technologies, Waste Management Solutions and Sustainable Building Materials.

9. Waa Solar Ltd

• Market Cap: ₹ 252.00 Cr.
• Sales (latest quarter): ₹ 3.04 Cr.
• Net Profit (latest quarter): ₹ 1.59 Cr.
• Quarterly profit growth:  %
• Exchange: BSE
• Official Website: waasolar.org

Waa Solar Ltd is a company that specializes in providing renewable energy solutions. With a strong commitment to sustainability and environmental impact, Waa Solar is dedicated to helping individuals and businesses transition to clean, renewable energy sources.

Waa Solar offers a wide range of products and services to meet the diverse needs of its clients. Our product portfolio includes Solar panels, Solar inverters, Solar batteries, Solar monitoring systems and Solar installation services.

10. Indosolar Ltd

• Market Cap: ₹ 123 Cr.
• Sales (latest quarter): ₹ 0 Cr.
• Net Profit (latest quarter): ₹ -4.82 Cr.
• Quarterly profit growth: -2.77 %
• Exchange: BSE
• Official Website: indosolar.co.in

Indosolar Ltd is a leading Indian solar energy company with a focus on manufacturing solar panels and solar power plants. The company was founded in 2011 and is headquartered in Gurugram, Haryana. Indosolar Ltd is committed to providing clean and sustainable energy solutions to various sectors, including residential, commercial, and industrial.

Indosolar Ltd offers a wide range of products and services to meet the growing energy needs of India. The company's primary products include Solar panels, Solar power plants and EPC services.

Benefits of Solar Panel

Solar panels offer several benefits, including:

- Renewable Energy Source: Solar panels are a clean and renewable energy source, producing electricity without emitting harmful greenhouse gases or pollutants.

- Cost Savings: Over time, solar panels can significantly reduce electricity bills by generating electricity from the sun, eliminating the need for conventional power sources.

- Environmentally Friendly: By reducing reliance on fossil fuels, solar panels contribute to reducing greenhouse gas emissions and mitigating climate change.

- Energy Independence: Solar panels provide a source of electricity independent of the power grid, allowing individuals and businesses to have more control over their energy generation.

- Longevity: Solar panels have a lifespan of several decades, making them a reliable investment for long-term energy generation.

Conclusion

The solar panel manufacturing industry in India has made significant progress and continues to grow rapidly. Companies like Tata Power Solar, Adani Solar, and Vikram Solar are leading the way with their innovative products and solutions. As the demand for renewable energy rises, these companies are well-positioned to drive the next phase of India's solar revolution.