India Targets 1 Crore Rooftop Solar Homes by 2027; Solar Stocks in Focus

The Government of India has set an ambitious target to install rooftop solar plants in one crore (10 million) households by 2026–27 under the PM Surya Ghar Muft Bijli Yojana (PM-SGMBY). Launched in February 2024, the scheme is being implemented across all states and Union Territories, with allocations based on state-level demand and performance.

Alongside PM-SGMBY, the PM-KUSUM scheme is also promoting decentralised renewable energy adoption, particularly for rural and agricultural needs.

Madhya Pradesh’s Renewable Energy Milestones

As of June 30, 2025, Madhya Pradesh has achieved 11,279.39 MW of installed renewable energy capacity, including:

• 5,570 MW from solar power
• 3,195.15 MW from wind energy
• 155.46 MW from bioenergy
• 2,358.71 MW from hydro power

In addition, the state has been sanctioned 8 solar parks with a combined capacity of 4,248 MW under the Solar Parks and Ultra-Mega Solar Power Projects programme, reinforcing its position as a renewable energy leader.

Employment Generation in the Clean Energy Sector

According to studies by CEEW and TERI, the renewable energy sector is expected to generate nearly 13 lakh employment opportunities by June 2025. Skill development initiatives like Suryamitra, Vayumitra, and Jal-urja Mitra have already trained and placed over 31,829 youth and technical workers across India.

Solar Sector Corporate Highlights

Solex Energy Limited

With a market cap of ₹1,390.5 crore (as of Aug 13, 2025), Solex Energy hit a 2% upper circuit on the NSE, rising to ₹1,287.2 on Aug 12. The company manufactures solar PV modules and provides EPC services for rooftop, industrial, and utility-scale solar projects.

Under its Vision 2030, Solex plans to expand from 1.5 GW to 15 GW module manufacturing capacity and establish a new solar cell plant starting at 2 GW, scalable to 5 GW.

Insolation Energy Limited

With a market cap of ₹4,829.92 crore, Insolation Energy’s stock rose nearly 1% to ₹219.20, on Aug 13, at 11:11 AM on the BSE. The company manufactures solar panels, PCUs, and batteries and has aggressive revenue targets:

• FY26 – ₹3,000 crore
• FY27 – ₹5,500 crore
• FY28 – ₹8,500 crore

It plans to scale to 8 GW module and 3 GW cell capacity by FY28, supported by a ₹1,300 crore capex funded through internal accruals and debt.

Waaree Renewable Technologies Limited

With a market cap of ₹10,441.34 crore, on August 13, Waaree Renewable’s stock opened at ₹1,008.00 touching day’s high at ₹1,014.90. The company engages in renewable power generation and EPC services, with offerings like rooftop, floating, and large-scale solar projects.

Its Q1 FY26 unexecuted order book stands at 3,155 MWp, and executed projects at 699 MWp. Key ongoing works include a 4.25 MWp rooftop solar project in Rajasthan.

Also Read: KPI Green Energy Receives Major Solar Project LOA! 

Conclusion

India’s aggressive renewable energy roadmap, anchored by large-scale rooftop solar, decentralised energy projects, and massive capacity expansions, is creating not only cleaner power but also significant employment opportunities. With states like Madhya Pradesh leading in capacity addition and private players scaling manufacturing, the vision for a self-reliant green energy future is steadily advancing.

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