10 Best Solar Panel Company in India

In recent times India has developed largely as a manufacturing hub of the world. Solar panel companies have also seen a boom in India since solar energy is increasingly having an impact on the energy sector of this country. Millions of Indians have profited from solar-based energy. If you are also planning to buy solar and want the know about the best solar panel company in India, then this blog is for you. It will also make you aware of the best solar panel manufacturers in India listed, the best solar panel company in India for home, etc.

What are Some Major Advantages Solar Energy Offers?

Before learning about the best solar panel company in India, you should learn about the advantages solar energy brings to your table-

• It is a one-time investment.
• It reduces unwanted monthly electricity bills.
• It doesn’t produce harmful emissions.
• It is a low maintenance expenditure.
• Lastly, it helps create a cleaner and greener environment.

10 Best Solar Panel Company in India

Solar panels are becoming important parts of Indian households because of the variety of the various advances they offer. Here is a list of the best solar panel company in India that will help you invest in a good solar panel-

1. Adani Green

Adani Green Energy is a reputable green energy company in India. It engages in the process of manufacturing solar PV modules and is among the top 10 solar panel company in India. Adani Enterprises has a subsidiary called Adani Solar. It is among the top utility solar power developers. The company manufactures solar modules and cells with 1.5+ cell and module capacity in Mundra, Gujarat. It is also among India’s top solar power installers.

This company is India’s first as well as biggest vertically integrated solar enterprise. It offers goods and services across the photovoltaic manufacturing spectrum. It has cutting-edge technology which includes equipment and machinery obtained from the best vendors in the market. This technology aims to aid the scale of operations, cost leadership, and dependability standards in order with worldwide benchmarks. Additionally, Adani Solar is also constructing the World’s First Fully Integrated and Comprehensive Eco-system of 10 GW Solar PV manufacturing in Mundra, India.

Also Read: Top 10 Building Integrated Photovoltaics Manufacturers in the World

2. Tata Power Solar Systems

This one is among the best solar panel company in India. Additionally, it is also among the 10 top solar panel manufacturers in India. This company boasts a strong hold on residential rooftop solar units. Over the past 20 years, it has nearly shipped 1.4 GW of solar modules worldwide.

Tata Power Solar obtained India’s largest solar EPC contract. By adding one of the largest solar EPC projects to its portfolio, with SJVN Limited, Tata Solar is gradually advancing in its objective of contributing to India’s sustainability goals. This EPC order was made with the creative use of Make in India modules and cells in mind.

This project will be built under MNRE’s CPSU plan and it will cover about 5000+ acres in Rajasthan. It seeks to save about 22, 87,128kg of carbon emissions and is also estimated to generate nearly 2500 million units yearly.

3. Waaree Energies

Waaree Energies Ltd is a Mumbai-based corporation formed in 1989. Currently, it has about 360+ locations in India and 68 overseas countries. It is among the top solar panel manufacturers in India. It has stunning 2 GW module production facilities in Surat.

This company is the earliest organization in India to have an in-house NABL Lab Facility. They provide project development, solar rooftop solutions, EPC services, independent powerhouses, solar water pumps, and a variety of other services. This company is one of the best solar panel companies in India you can rely on. It has 30-plus years of expertise and a worldwide presence.

4. Vikram Solar

Vikram Solar is one of the major solar energy firms in India and thus its included in this list of the best solar panel company in India. It delivers mono and bifacial solar panel modules across six continents. Nearly 1355 MW of its solar projects have been constructed as well as commissioned in India. This company has a 10 kW floating solar facility in Kolkata. Additionally, its solar panel production capability is over 1 GW.

5. Renewsys Solar

Renewsys Solar is among the top 10 solar panel company in India. It is a full-service provider of solar modules and critical components like black sheets, solar PV cells, and encapsulants. In India, it has two production plants and its supply chain is spread over 40 countries.

6. Loom Solar

Loom Solar Pvt. Ltd is situated in Faridabad, Haryana, and has a manufacturing capacity of 100 MW. It is a named mono-perc as well as a lithium battery manufacturer. After starting in 2018, this company has become one of the fastest-growing solar panel manufacturers in India. It additionally has a wide range of solar panels from 10 watts to 450; these are pretty high-efficiency panels. It deserves its place among the top 10 solar panel company in India.

Also Read: Top 30+ Renewable Energy Companies in India

7. Insolation Energy

Insolation Energy Pvt. Ltd is situated in Jaipur, Rajasthan. This company was founded in October 2015 and gradually grew to become one of the best solar panel company in India. This national solar energy supplier has established a state-of-the-art fully automatic solar PV module batteries, production factory, and inverter in Jaipur.

This company has the most contemporary 200 MW Solar PV Module Production Unit which is designed by engineers and promoters from top institutes.

Also See: Solar Module Vs Solar Panel: What’s the Difference?

8. Microtek Solar Solutions

This company provides a wide range of solar products for commercial users as well as for retail. The products by Microtek Solar Solutions are manufactured with the latest solar technologies to deliver the best results. Their products include Solar Management Units, Power Conditioning Units, Solar Combo Packages, and Photo Voltaic Modules.

9. Goldi Solar

Goldi Solar is one of the top solar panel manufacturers in India. Its headquarter is situated in Surat, Gujrat. The company’s production capacity has increased from 10 MW to 500 MW in the previous decade.

10. Moser Baer Solar Ltd

Moser Baer Solar Ltd is an energy-focused organization based in Delhi. It provides EPC and solar-powered PV solutions. This company has a powerful R & D department which enables it to manufacture the best solar panels in India. It also has two times magnified standard warranty.

Also Read: Top 3 Green Energy Stocks in India

7 Solar Panel Manufacturers in India Listed in Stock Market

Terms like global warming and the greenhouse effect are trending now and then. The continued use of fossil fuels like gas, coal, and oil has led to air and water pollution. These environmental concerns are giving rise to the importance of the usage of renewable and clean energy resources worldwide. This is also encouraging companies in India to work in the renewable energy sector. This is a list of 10 solar panel manufacturers in India listed in stock market.

1. Waa Solar Ltd

Waa Solar is one of the best solar panel manufacturers in India listed in stock market. It was founded in 2009 and generally focuses on solar power generation. Its debt-to-equity ratio over the last 5 years has been 98.35% vs the industry average of 107.33%.

2. Suzlon Energy Ltd

Suzlon Energy is a small-cap company that was founded in 1995. It is into renewable energy services and equipment. The company offers renewable energy solutions such as land acquisition and approvals, solar irradiance assessment, supply chain, infrastructure and power evacuation, installation and commission, etc. It also produces wind turbines. Over the past 5 years, its debt-to-equity ratio has been -218%.

3. Websol Energy Systems Ltd

Websol Energy is a small-cap company that manufactures photovoltaic monocrystalline solar modules and cells in India. Over the last five years, Websol’s debt-to-equity ratio has been 48.65% compared to the industry avg of -251.35%

4. Ujaas Energy Ltd

Ujaas Energy Ltd was founded in 1979 and is among the oldest companies in the renewable energy sector of India. This company is into the manufacturing as well as the sale of solar power systems. It also indulges in the plant operation business. In the last 5 years, its debt-to-equity ratio has been 83.86% compared to the industry avg of 107.33%

Also See: Does Cleaning Solar Panels Make a Difference?

5. Urja Global Ltd

Urja Global is among the top 7 solar panel manufacturers in India listed in stock market. This company is into renewable energy equipment and services. Its prime focus is on developing as well as operating renewable and non-renewable energy. Over the last five years, against the industry average of -251.35%, the debt-to-equity ratio of Urja Global has been 3.36%.

6. Surana Solar Ltd.

Surana Solar is into manufacturing solar photovoltaic modules, trading solar-related products, and wind power energy generation. This company was founded in 2006 and over the last five years, the debt-to-equity ratio of Urja Global has been 26.87% compared to the industry average of -251.35%.

7. Gita Renewable Energy Ltd

Gita Renewable Energy is a small-cap company founded in 2010. Its work involves power generation from renewable sources like hydro, wind, and solar. Over the last five years, the debt-to-equity ratio of this company has been 33.15% compared to the industry avg of 107.33%.

10 Best Solar Panel Company in India for Home

After learning about the 7 Solar Panel Manufacturers in India Listed in Stock Market, let’s also learn about the 10 best solar panel company in India for home.

1. Vikram Solar- Multi-crystalline Solar Panels

Vikaram solar is among the leading solar panel company in India for homes. This company provides high-efficiency solar modules for home use at affordable prices. This company is extremely popular in India due to the efficiency and durability of its modules. It provides both on-grid and off-grid modules for homes, office buildings, and residences. It has a global presence with other leading solar service providers.

Also Read: What is an Autonomous PV System?

2. Navitas Solar – Multi-crystalline Solar Panels

Navitas Solar is among the latest manufacturers of multi and mono-models that produce sustainable solar electricity through solar electricity. It is located in Surat, Gujarat. Apart from manufacturing solar panels for homes, this company also provides solar panels for industrial complexes and residential buildings.

Apart from manufacturing solar panels, this company also has expertise in developing, installing as well as managing big solar projects in India. They are also striving to create other innovative and cost-effective solutions for the customers.

3. Spark Solar- Polycrystalline Solar Panels

Sparks solar is one of the best solar panel company in India for homes. It has the best solar modules for offices, houses, and residential buildings. This company follows all the highest quality, durability, and standards while designing the module.

Spark modules are famous worldwide due to their excellent durability, performance, efficiency, and value-for-money products. The company always creates environment-friendly, technological, and innovative modules.

Also Read: 3 Leading Types Of Solar PV System

4. Tata Solar – Polycrystalline Solar Panels

Tata is one of the largest and most trusted solar manufacturers in India for home, industrial, and residential requirements. Tata solar plays a crucial role in making India a leading sustainable solar power producer country.

For not used roofs, this company provides the best panels for homes at a very less price. It provides mono, poly, and multi-crystalline solar in on-grid and off-grid solar systems at a very cheap price. Tata produces the most durable as well as efficient solar industry products.

5. REC Solar – Monocrystalline Solar Panels

REC company was founded in Norway and it is one of the biggest European companies in India. This company has a noticeable market share in India’s solar service industry. It aims to provide clean and environment-friendly solar solutions for customers.

REC provides Mono crystalline p-type as well as n-type solar panels and Hydro junctions in India. This group offers low-cost rooftop solar panels with great warranty periods. It offers both on-grid and off-grid solar panels in India.

6. Luminus Solar – Polycrystalline Solar Panel

Luminous solar is one of the best solar panel company in India for homes. This trusted brand has about 7 manufacturing plants across India. It provides various types of solar products like solar inverters, fans, LED lights, switches, and residential or rooftop solar panels. Luminous provides innovative solar solutions and their polycrystalline solar has a great efficiency rate.

7. Loom solar- Monocrystalline Loom Solar Panels

Loom solar is an Indian company with its headquarters situated in NCR. They are known for making reliable Monocrystalline solar panels in India. They also manufacture battery backup systems, grid-connected systems, inverters, solar panels, and other solar accessories at very low prices.

The monocrystalline module produced by Loom solar is among the best solar panels for homes in India. The company produced this A-grade module to target specific customers who are looking to install rooftop solar. Due to great quality and services, Loom solar is growing quite fast.

8. Microtek Solar- Multi Crystalline Solar Panels

Microtek solar is one of the best solar panel company in India for homes. They provide customers with environment-friendly modules at a very low cost. Microtek 150 watts are among the best solar panels for homes in India. These panels are built with premium quality materials. They operate on 12 volts and give about 150 output power easily. It can be easily implemented in on-grid and off-grid structures.

9. Exide Solar- Polycrystalline Solar Panels

Exide solar is among the biggest solar products manufacturing company in India. It produces products like solar inverters, solar lights, and solar panels in a very less price range.

This company has a strong hold on customers in the domestic market. It provides cost-effective models for long-term use. Its polycrystalline solar panels are among the best solar panels for homes in India to use in off-grid and on-grid systems.

10. Havells solar – Polycrystalline Solar Panels

Havells a well-known in India for its electrical appliances and solar products. It provides both off-grid and on-grid solar systems in India with the most suitable solar solutions for the home. These systems are made of Silver anodized Aluminium alloys.

Havells Polycrystalline solar is among the best solar panels for homes in India. These panels have high output power and great positive power tolerance. They are also quite reliable under any weather conditions. After this, let’s learn about the top 20 solar companies in India.

Also Read: What is Half Cell Solar Panel?

Top 20 Solar Companies in India

Now that you have learned about the 10 best solar panel company in India, it’s time you should also learn about the top 20 solar companies in India.

1. Hero Future Energies

Hero Future Energies is a Subsidiary of Hero Group, one of India’s largest conglomerates. It is primarily focused on the construction, development, and operation of renewable energy assets including solar and wind power.

The company has marked its presence in 13 states in India. It is committed to reducing India’s dependence on fossil fuels. It aims to promote the use of renewable, clean energy.

It is involved in varying aspects of the clean energy sector including EPC (Engineering, Procurement, and Construction Services), project development, and operation and maintenance services.

Also Read: Grid Tied Solar System Components

2. Azure Power

Azure Power was founded in 2008 and it is yet another independent solar power producer in India. It is more focused on building, developing, operating, and owning solar power assets in India.

Till 2022, the had an installed capacity of over 4 GW and has a presence in 18 states in India. Additionally, it is involved in EPC services, project development, and operation and maintenance services. This company is known for its reliability and quality.

3. ACME Solar

ACME Solar is one of the largest solar power producer company in India. In India, it is focused on the construction, development, and operation of solar-powered assets. As of 2022, it had a presence in over 17 Indian states and installed a capacity of over 6 GW.

4. Jaiprakash Power Ventures

Jaiprakash Power Ventures Limited (JPVL) was established in 1994 and is a very popular Indian power company. It is a part of Jaypee Group, one of the largest companies in India.

JPVL has been involved in the operation and development of power generation as well as distribution projects in India. This company also has a portfolio of hydro and thermal power plants with a total capacity of about 5 GW.

Also See: Solar Energy VS Geothermal Energy: Which is Right For You?

5. IL&FS Energy Development Company

IL&FS Energy Development Company (IEDC) was established in 1989 and is a subsidiary branch of IL&FS. Its parent company is among India’s largest infrastructure development as well as a finance company. It is primarily focused on developing renewable energy projects in India.

This company has a firm hold on India’s solar and wind energy market. It has also developed several large-scale renewable energy projects in the country.

6. AMP Energy

AMP Energy is a renewable energy company focused primarily on building, developing, and operating clean energy projects around the world. It is part of AMP Capital Group, a leading investment management firm in Asia-Pacific.

This company specializes in the development of wind, solar, and energy storage projects. It has a firm presence in many key markets, including Australia, Europe, and India. It is also involved in product design, research and development, and manufacturing.

Also Read: Wind Turbine and Solar Panel Combination

7. Mahindra Susten

Mahindra Susten was established in 2008 and is a subsidiary of Mahindra Group. It is more focused on the construction, development, and operation of renewable energy projects in India and globally.

This company has specialization in the development of solar and energy storage projects. Additionally, it has a solid presence in several key markets, including Europe, India, and the United States.

8. SoftBank Energy

SoftBank Energy was established in 2020 and is a subsidiary of SoftBank Group, a Japanese multinational conglomerate. It specializes in the development of wind and solar energy projects. Additionally, it has a firm hold in the energy markets of India, Europe, the United States, and the like.

Till 2022, this company had a total installed capacity of several GWs. It was playing a key role in the development of the global renewable energy sector.

Also See: What is a 5kw Hybrid Solar System?

9. L&T Infrastructure Development Projects

It is a subsidiary of Larsen & Toubro Limited (L&T). The L&T Infrastructure Development Projects Limited (L&T IDPL) was founded in 2009. Its specialization is in the development of solar as well as wind energy projects. It has a strong presence in several key markets, like India, Africa, and the Middle East.

Apart from the core business, L&T IDPL is also involved in different aspects of the infrastructure sector, like the development of ports, roads, bridges, and airports.

10. JSW Energy

JSW Group is the parent company of JSW Energy. This solar energy company was established in 1994 and is primarily focused on the generation as well as distribution of electricity in India and around the world.

This company operates renewable and thermal energy projects. In countries like Europe, India, and the United States, it has a quite strong presence. It has a portfolio of other renewable energy assets, including solar and wind energy projects.

Additionally, apart from its core business, JSW Energy is also involved in various other aspects of the energy sector, like the development of distribution and transmission networks as well as the exploration and production of natural resources.

11. ReNew Power

ReNew Power is an Indian renewable company located in Kolkata. It was established in the year 2011. Its focus is mainly on the construction, development, and operation of renewable energy projects in India and around the world.

This company specializes in the development of solar and wind energy projects. In countries like the United States, Europe, and India, this company has a pretty noticeable presence.

12. BHEL

BHEL stands for Bharat Heavy Electricals Limited. This Indian engineering and manufacturing company was established in 1964 and is currently located in New Delhi. It is among India’s largest power equipment manufacturers.

This company is engaged in the commissioning, design, engineering, construction, manufacture, testing, and servicing of a wide variety of products for power transmission, generation, and distribution sectors.

BHEL is quite famous in the energy market of Africa, India, the Middle East, and Southeast Asia. It is also involved in the development of renewable energy projects, such as solar and wind power plants, and the exploration as well as production of natural resources.

Also Read: What are Double Glass Solar Panels?

13. Suzlon Energy

Suzlon Energy is an Indian renewable energy company located in Pune. It was established in 1995 and is mostly focused on the construction, operation, and development of wind energy projects in India and around the world.

This company is among the largest wind turbine manufacturers in India. It also has a strong presence in America, Asia, India, Europe, etc.

14. SunEdison

SunEdison was established in 2003 and was a global renewable energy company that was based in the United States. During its peak days, the company was among the largest renewable energy companies in the world. However, the company filed for bankruptcy in 2016 which resulted in its dissolution. Despite, its dissolution SunEdison has a key impact on the renewable energy sector.

15. Mytrah Energy

Mytrah Energy is yet another Indian renewable energy company that was established in 2007. The company is focused on the construction, development, and operation of wind and solar energy projects in India. It has a firm presence in several key markets, like Africa, India, and the Middle East.

Also See: 3 Amorphous Solar Panels Advantages and Disadvantages

16. Reliance Power

Reliance Power was established in 2007 and is a leading Indian energy company. It is a subsidiary of Reliance Group. Its primary focus is on the construction, development, and operation of power projects in India and around the world. It works on both renewable and conventional energy projects.

17. Icomm TeleLtd

ICOMM is among the world’s leading manufacturers of renewable energy. This company focuses on offering solutions in solar thermal, photovoltaic, and hybrid (solar+wind). To meet all your energy needs, this company offers one-stop customized renewable energy solutions

The company also provides reliable, affordable, and clean solar energy solutions for the global market.

Also Read: How to Evaluate Solar Panels with 5 Key Parameters

18. Emmvee

Emmvee was founded in 2007 and is headquartered in Bengaluru. It has active sales offices across India and Germany. The solar products offered by this company come with smart innovations and cutting-edge technology. They develop as well as manufacture Photovoltaics (PV) systems and modules.

19. JA Solar Energy Company

JA Solar Energy Company is among the top 20 solar companies in India. It was established in 2005 and now it is one of the leading manufacturers of photovoltaic products. It has 12 manufacturing bases along with 20 branches spread all over the world. Its business covers silicon cells, modules, wafers, and photovoltaic power stations.

20. Panasonic

Panasonic Solar Panels are affordable solar energy providers. The solar panels from this company are specially designed to be weather resistant. They are easy to install and deliver best-in-class innovation as well as technology. In this company, you get a full solution to all your solar power needs.

Indulging in solar energy isn’t just about buying a solar panel, it is a lifestyle. If you want to go solar in India learning about the best solar panel company in India was very important. If you want to invest, always go for the best.

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