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How Green Energy Stocks Performed in 2024

Updated on: Dec 10, 2024, 3:45 PM IST
Websol Energy System surged by an incredible 468.62%, leading the green energy pack in 2024. Most renewable energy stocks delivered positive returns.
How Green Energy Stocks Performed in 2024
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India’s renewable energy journey has reached a historic milestone, with the country’s total installed renewable energy capacity surpassing 200 GW as of October 10, 2024. According to the Central Electricity Authority, the capacity now stands at 201.45 GW, a monumental achievement that underscores India’s steadfast commitment to sustainability and clean energy. This success story is fueled by contributions from solar, wind, hydro, and bioenergy, alongside proactive government initiatives and private sector involvement.

Green Energy Stocks: 2024 Performance Highlights

The renewable energy sector’s rapid growth has been mirrored in the stock market, with several green energy stocks delivering remarkable gains in 2024. Here’s a snapshot of the top-performing stocks in the sector:

Note: The stocks performance as of December 09, 2024 

Spotlight on Companies Driving Green Energy

  • Websol Energy Systems 

Websol Energy has played a crucial role in India’s solar revolution by manufacturing high-quality photovoltaic cells and modules. Their commitment to innovation and sustainability has been instrumental in achieving this milestone. 

  • JSW Energy 

JSW Energy has significantly contributed to India’s renewable energy capacity with its expanding portfolio of wind and solar power projects. Their investments in cutting-edge technology underscore their commitment to a sustainable future. 

  • Tata Power 

Tata Power’s leadership in renewable energy is evident in its extensive portfolio, including solar rooftops, microgrids, and wind energy. The company has been a frontrunner in driving India’s green energy transition.

Key Government Initiatives Driving Renewable Energy Growth

India’s green energy transition has been accelerated by strategic initiatives aimed at fostering renewable energy adoption:

  • National Green Hydrogen Mission: Focused on positioning India as a global hub for green hydrogen production, this mission aligns with decarbonization goals.
  • PM-KUSUM Scheme: Designed to solarize agricultural pumps and promote decentralized solar energy generation.
  • PM Surya Ghar Initiative: Encourages rooftop solar installations in residential and commercial buildings.
  • PLI Schemes for Solar PV Modules: These schemes incentivize domestic manufacturing of solar photovoltaic modules, reducing reliance on imports.

These measures not only support energy self-reliance but also contribute significantly to combating climate change.

A Greener 2025 Beckons

India’s renewable energy journey is far from over. With ambitious goals of achieving 500 GW from non-fossil fuel sources by 2030, the country is set to solidify its position as a global leader in clean energy. The private sector’s active participation, coupled with robust government policies, ensures that the momentum continues unabated.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.

Published on: Dec 9, 2024, 6:01 PM IST

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