India’s solar energy sector is gaining momentum in a bid to achieve the country’s target of attaining 50 percent renewable sources for energy by 2030. With $3.2 billion in government incentives fueling its push, the country is set to become the second-largest solar manufacturer in the world by 2026.
Although top solar companies have to climb the long mountain to achieve their stated goal of 280 GW of solar capacity by 2030, India’s solar sector looks prepared for it, for most Organizations here have already started measuring solar capacity in gigawatts rather than megawatts.
Below, we look in greater detail at the List of Best Solar Energy Company propelling India toward a bright solar future. Therefore, come with us and delve deep into the solar industry.
Unveiling the Top 10 Solar Energy Companies in India
1. Loom Solar
Established in 2018 and headquartered in Faridabad, Haryana, Loom Solar also has its presence in Chennai, Tamil Nadu. This company manufactures solar panels and lithium batteries that help store energy for off-grid or hybrid solar systems. Having 100 employees, one manufacturing unit, two offices, and 3,500 resellers, the company is ISO 9001-2015 certified & a recognized startup by the Government of India.
| Particulars | Details |
| Name | Loom Solar |
| Founded | 2018 |
| Owner | Amol AnandAmod Anand |
| Headquarters | Faridabad, Haryana |
| Industry | Solar Energy |
| Valuation | $2 million |
| Revenue | Rs 54.2 crore |
2. Adani Solar
The division of Adani Group, Adani Solar, another name in the List of Best Solar Energy Company, is the largest vertically integrated manufacturer of solar cells and solar panels. Established in 2015, the company produces solar modules at its headquarters, i.e., Ahmedabad, Gujarat, which has a manufacturing capacity of 4 gigawatts. Further, the company is currently establishing an ecosystem with 10 gigawatts of photovoltaic manufacturing capacity.
| Particulars | Details |
| Name | Adani Solar |
| Founded | 2015 |
| Owner | Gautam Adani |
| Headquarters | Ahmedabad, Gujarat |
| Industry | Solar Energy |
| Valuation | $6 billion |
| Revenue | Rs 28.06 billion |
3. Microtek
Microtek is a company that is based in Delhi. It is a technology innovator and a pioneer in the power backup industry in India. This company was established in 1986 and focuses on harnessing the world’s latest technology for the user’s benefit. Besides, due to its dedication to mastering its chosen field by continuously upgrading and investing.
| Particulars | Details |
| Name | Microtek |
| Founded | 1986 |
| Owner | Subodh GuptaSaurabh Gupta |
| Headquarters | New Delhi, Delhi |
| Industry | Solar Energy |
| Valuation | NA |
| Revenue | Rs 19.7 crore |
4. Emmvee
Founded in 1992 and headquartered in Bengaluru, Karnataka, Emmvee manufactures solar water heating systems and solar panels. Having a legacy of over 30 years in the solar industry, they are expert in harnessing the abundant power of the sun and setting new industry standards through photovoltaic modules, solar panels, solar water heaters, and more. The company’s vision revolves around shaping a bright and sustainable future for all.
| Particulars | Details |
| Name | Emmvee |
| Founded | 1992 |
| Owner | D V Manjunatha |
| Headquarters | Bengaluru, Karnataka |
| Industry | Solar Energy |
| Valuation | NA |
| Revenue | Rs 635 crore |
5. Vikram Solar
Vikram Solar, another name in the List of Best Solar Energy Company in India, is one of India’s largest solar panel manufacturing companies, with 3.5 gigawatts of production capacity as of 2022. The company was also started in 2006, apart from offering engineering, procurement, and construction services besides offering operations and maintenance services. Many firsts are attached to this Kolkata-based company-the first floating solar plant in India, for instance.
| Particulars | Details |
| Name | Vikram Solar |
| Founded | 2006 |
| Owner | Gyanesh Chaudhary |
| Headquarters | Kolkata, West Bengal |
| Industry | Solar Energy |
| Valuation | $482 million |
| Revenue | Rs 25,109.90 million |
6. Servotech
Established in 2004, Servotech is a solar energy and electric vehicle charging firm. The New Delhi-based company’s solar energy offerings encompass the following products: solar panels, solar batteries, and solar inverters. In 2019, the firm unveiled ServPort, which is a portable solar rooftop with a battery storage system designed for easy assembly by consumers. Other areas serviced include providing engineering, procurement and construction solutions for residential and commercial purposes.
| Particulars | Details |
| Name | Servotech |
| Founded | 2004 |
| Owner | Raman Bhatia |
| Headquarters | New Delhi, Delhi |
| Industry | Solar Energy |
| Valuation | Rs 200 crore |
| Revenue | Rs 199.67 million |
7. ICOMM
Although ICOMM works across the telecom, defense, and infrastructure sectors, it incorporated a solar energy division in 1994. The company has some portfolios of solar products, including home lighting, street lights, portable lanterns, garden lights, and solar water pumps for rural areas. Manufacturing solar water heating technologies, the company also has expertise in the fields of power, road infrastructure, oil & gas, pre-engineered buildings, defense and communications.
| Particulars | Details |
| Name | ICOMM |
| Founded | 1989 |
| Owner | Sumanth Paturu |
| Headquarters | Hyderabad, Telangana |
| Industry | Solar Energy |
| Valuation | $68.2M |
| Revenue | Rs 4,076 million |
8. Sova Solar
Founded in 2008 and headquartered in Kolkata, West Bengal, Sova Solar is another name in the List of Best Solar Energy Company that produces solar photovoltaic products. The company has an annual production capacity of 850 megawatts, which was anticipated to grow by 1 gigawatts by fiscal year 2023-2024. Further, the company aims to reach a capacity of 5 gigawatts by fiscal year 2025-2026.
| Particulars | Details |
| Name | Sova Solar |
| Founded | 2004 |
| Owner | Dr. Subrata Mukherjee |
| Headquarters | Kolkata, West Bengal |
| Industry | Solar Energy |
| Valuation | NA |
| Revenue | Rs 500 crore |
9. Ampin Energy Transition
AmpIn Energy Transition, an independent power producer, works with commercial, industrial, and utility customers on transitioning to renewable energy – primarily solar power. Established in 2016, AmpIn Energy Transition was initially known as Amp Energy India. Its headquarters is located in New Delhi and it has regional offices in Mumbai, Bangalore, and Kolkata. The company has a total portfolio of roughly 3 gigawatts spread across 15 states in India.
| Particulars | Details |
| Name | Ampin Energy Transition |
| Founded | 2016 |
| Owner | Pinaki Bhattacharyya |
| Headquarters | New Delhi, Delhi |
| Industry | Solar Energy |
| Valuation | Rs 944 crores |
| Revenue | $19.7M |
10. SWELECT Energy Systems
SWELECT Energy Systems was established in 1984 under the name Numeric Power Systems Limited. The company acquired HHV Solar in 2013 and has since manufactured solar panels, solar inverters, solar water pumps, and hydro panels. The company has a production capacity of 500 megawatts in its manufacturing facility at Coimbatore.
| Particulars | Details |
| Name | SWELECT Energy Systems |
| Founded | 1984 |
| Owner | Mr. Chellappan Ramaswamy |
| Headquarters | Chennai, Tamil Nadu |
| Industry | Solar Energy |
| Valuation | Rs 1,684 crores |
| Revenue | Rs 197.64 crore |
To Sum It Up
In this guide, we’ve covered the List of Best Solar Energy Company in India that have successfully established themselves in this rapidly changing market. Through this guide, we understand that India boasts a diverse and rapidly growing solar energy sector, with several companies leading the way in innovation, sustainability, and clean energy solutions. With the help of these solar energy companies, India is transitioning to a greener future. With this, we end this guide here hoping that you got some relevant information about Solar Energy companies.
Also Read: Top 10 Edtech Companies in India | Top 25 FinTech Companies in India 2024 | Top Emerging Startup in India 2024
FAQs
1. What does a solar energy company do?
A solar energy company designs, manufactures, maintains, installs, and distributes solar power systems and related products.
2. How many solar energy companies operate in India?
Anticipatedly, India has over 500 solar energy companies that are helping the country with solar power systems.
3. Is the solar energy industry a good career?
A job in the solar sector provides stability, expansion, and the opportunity to create a real impact in combating climate change.
4. What is India’s rank in the solar energy industry?
India is ranked as the world’s third-largest solar energy generator, ahead of Japan.
5. Why is the solar energy industry so successful?
The solar energy industry is successful mainly because of reasons, which include government incentives, low maintenance costs and market dominance
