Top 10 solar panel companies in India: a buyer's guide for homes and businesses

"Which is the best solar panel company in India?" is one of the most searched solar questions in the country, and also one of the hardest to answer honestly. There is no official ranking. Capacity figures change every few months as factories expand. And the panel brand is only one part of what decides whether a rooftop system performs well for 25 years.

This guide does something more useful than a ranking. It lists ten established Indian solar panel manufacturers, explains how we chose them, summarises what each one makes, and then shows you how to compare their panels on the things that matter for your roof.

The companies are listed in alphabetical order, not ranked. Where we give facts about a company, they come from public sources, listed at the end of this article. Manufacturing capacity is changing quickly across the industry, so for current figures check each company's latest filings or official website.

How we chose these ten companies

We used five criteria that a home or business buyer can check for themselves:

1. Manufacturing in India at scale. Each company makes solar PV modules in Indian factories at gigawatt scale, according to its own reports or trade press.
2. A track record. Each has been making modules for years, not months, and has supplied large projects.
3. A current product range. Each sells modern monocrystalline panels, and most offer TOPCon and bifacial models. Our guide to types of solar panels explains these terms.
4. Recognised in the government's approved list. India's Ministry of New and Renewable Energy (MNRE) maintains the Approved List of Models and Manufacturers (ALMM). Only listed models qualify for government and government-assisted projects. Listing is model-by-model, so always check the specific model you are quoted.
5. Visible in the Indian market. Their panels are widely available to installers and buyers across the country.

These criteria leave out many good smaller manufacturers. Being absent from this list does not mean a company is unreliable; it means it did not meet all five criteria in the sources we could verify.

Manufacturer vs installer: why both matter

Before the list, one point that saves buyers a lot of trouble. A panel manufacturer makes the modules. An installer (often called a solar EPC company) designs your system, chooses the inverter, structure and cabling, installs everything, handles DISCOM approvals and net metering, and looks after the system afterwards.

A top-quality panel on a poorly built structure, with thin cables, loose connectors and no proper earthing, will underperform and may fail early. A good mid-priced panel on a well-engineered system will often do better over 25 years. So choose the panel brand carefully, but choose the installer just as carefully. Our article on what a solar EPC company does explains what to look for.

The ten companies (alphabetical)

1. Adani Solar

• Base: Mundra, Gujarat. Part of the Adani Group.
• Background: Adani Solar began manufacturing in 2016 as the group's solar manufacturing arm.
• What it makes: Adani describes itself as a vertically integrated manufacturer. Its 2025 annual report lists ingot and wafer manufacturing as well as cells and modules, with plans for a larger integrated manufacturing ecosystem at Mundra.
• Worth knowing: Integration from ingots to modules gives a manufacturer more control over quality and supply. Adani panels are widely available for Indian rooftops.

2. Emmvee

• Base: Bengaluru, Karnataka.
• Background: The Emmvee group has been in solar for more than three decades, according to its 2023 announcement of a new cell and module plant.
• What it makes: Solar cells and modules. Its product range includes TOPCon modules and cells in bifacial and monofacial formats.
• Worth knowing: Emmvee has expanded its module and cell capacity near Bengaluru in recent years, according to trade press.

3. Goldi Solar

• Base: Surat, Gujarat.
• Background: Founded in 2011, according to the company's profile (some sources give 2010).
• What it makes: Solar PV modules, with EPC and independent power producer businesses alongside. The company says its products are ALMM-listed and BIS-certified, and that it exports to over 20 countries.
• Worth knowing: Goldi has expanded module capacity at Surat and has announced cell manufacturing plans.

4. Premier Energies

• Base: Hyderabad, Telangana.
• Background: Established in 1995, making it one of the longer-running names in Indian solar manufacturing.
• What it makes: Both solar cells and modules, from factories in the Hyderabad area. In 2026 it commissioned a TOPCon cell line, according to trade press.
• Worth knowing: Making its own cells as well as modules matters for buyers who need DCR panels (see below), because DCR modules must use Indian-made cells.

5. Rayzon Solar

• Base: Surat, Gujarat.
• Background: Incorporated in 2017.
• What it makes: Monofacial and bifacial modules based on TOPCon and mono PERC technologies, from plants at Karanj and Sava in Gujarat.
• Worth knowing: Rayzon has filed to raise funds for a TOPCon cell plant in Surat, according to its draft IPO papers reported in the press.

6. RenewSys

• Base: The renewable energy arm of the Enpee Group, a conglomerate established in 1961. Its largest integrated facility is in Hyderabad, with other plants in Bengaluru and Patalganga.
• What it makes: Solar modules (including TOPCon glass-to-glass bifacial modules) and module components such as encapsulants and backsheets, plus cells.
• Worth knowing: Making the components inside a module, not only the module, is unusual among Indian manufacturers and gives the company direct knowledge of what goes into a long-lasting panel.

7. Saatvik Green Energy

• Base: Manufacturing in Ambala, Haryana.
• Background: Incorporated in May 2015, with manufacturing from 2016. The company became a public limited company in 2024 and raised funds through an IPO in 2025.
• What it makes: Solar PV modules, with an EPC business alongside.
• Worth knowing: One of the faster-growing module makers in north India.

8. Tata Power Solar

• Base: Bengaluru, Karnataka.
• Background: Founded in 1989 as a joint venture between Tata Power and BP Solar, and a wholly owned subsidiary of Tata Power since 2012. Its Bengaluru manufacturing facility dates back to the early 1990s.
• What it makes: Solar cells and modules, plus a large EPC and rooftop business.
• Worth knowing: One of the oldest names in Indian solar, with a long manufacturing history and a nationwide network.

9. Vikram Solar

• Base: Kolkata, West Bengal, with manufacturing at Falta (West Bengal) and Oragadam (near Chennai).
• Background: Established in 2006, with module manufacturing from 2009.
• What it makes: High-efficiency PV modules. In 2025 it added module capacity at Falta and upgraded its Chennai facility, according to trade press.
• Worth knowing: Vikram Solar has a long export history as well as a strong Indian presence.

10. Waaree Energies

• Base: Mumbai, Maharashtra. The flagship company of the Waaree Group, which dates from 1989 (the company itself was incorporated in 1990).
• What it makes: Solar PV modules from several Indian facilities, with cell manufacturing in Gujarat and a module facility in the United States.
• Worth knowing: Waaree is listed on the Indian stock exchanges and is one of the largest module makers in the country by capacity, according to recent company and market profiles.

How to compare panels from these brands

Once you have a shortlist, compare the specific models you are quoted, not the brand names. Ask for the datasheet and look at:

• Rated power (watts): the panel's output under standard test conditions. Higher-wattage panels mean fewer panels for the same system size.
• Efficiency (%): how much of the sunlight hitting the panel becomes electricity. It matters most on small roofs. Our guide to solar panel efficiency explains why efficiency is only part of the story.
• Temperature coefficient: how much output drops as the panel heats up. In Telangana and Andhra Pradesh summers, a smaller (closer to zero) figure is worth having.
• Technology: mono PERC, TOPCon, bifacial, half-cut cells.
• Product warranty: typically covers defects for a set number of years.
• Performance warranty: the minimum output the manufacturer guarantees over 25 years or more, and the yearly degradation rate.
• Certifications: BIS certification and the model's presence on the ALMM list.
• DCR or non-DCR: whether the panel uses Indian-made cells (see below).

Two panels from the same company can differ more than two panels from different companies, so the model matters more than the logo.

DCR panels and the PM Surya Ghar subsidy

If you want the PM Surya Ghar rooftop subsidy, the scheme's rules on panels apply. Domestic Content Requirement (DCR) panels use solar cells made in India, and subsidy schemes often require them. Check the current panel requirements on the official PM Surya Ghar portal before you choose a model. Our article on DCR vs non-DCR solar panels explains the difference.

The subsidy also depends on who installs the system: it is paid only when a vendor registered with your DISCOM installs it. Origian Power is not a registered PM Surya Ghar vendor, so a system we install does not qualify for that subsidy. We say this before quoting, and we always quote the full price. See our subsidy guide.

Warranties: who actually honours them

Panel warranties are given by the manufacturer, not the installer. In practice, though, the installer is usually the one who identifies a fault, documents it and raises the claim with the manufacturer. So when comparing brands, also ask:

• Does the manufacturer have an Indian service presence?
• Will the installer handle warranty claims on your behalf?
• What does the installer's own workmanship warranty cover?

An established manufacturer is more likely to still be around in 20 years to honour a performance warranty. That is one reason to favour companies with long track records.

Do premium brands cost much more?

Panel prices vary by brand, technology and wattage, but the panels are only one part of a rooftop system's cost. The inverter, structure, cabling, protection devices, installation and approvals make up a large share. Our guide to home solar cost in India breaks the total down.

For most homes, the difference between well-known brands on a 3 kW system is a small part of the total. Cutting corners on the structure, earthing or cabling to save the same amount is a much worse trade.

Which of these brands does Origian install?

In the interest of transparency: Origian Power installs panels from four of the companies above, Renewsys, Adani, Waaree and Tata, chosen to suit each system and budget. They carry a 10-year product warranty and a 25-year performance warranty. Inverters come from Growatt, Solis and Goodwe. Your quotation names the exact brand and model, so you can read the datasheet before you sign.

We have included six other manufacturers because they meet the same criteria, and a fair guide should show you the wider market, not only the brands one installer uses.

Whichever brand you choose, the build around it decides how the system performs: galvanised structures rated for wind, dedicated lightning-arrestor earthing, surge protection on both DC and AC sides, and properly sized cable and connectors. See our Built to Last page for the hardware we use, or book a free site survey.

A quick checklist before you choose

1. Ask for the exact panel model on your quotation, not just the brand.
2. Read the datasheet: wattage, efficiency, temperature coefficient and degradation.
3. Check the warranty terms, product and performance, in writing.
4. Confirm the model is BIS certified and on the ALMM list.
5. If you want the subsidy, confirm the DCR requirement and that your installer is a registered vendor with your DISCOM.
6. Judge the installer as carefully as the panel. See our guide on how to choose a solar installation company in India.

Common mistakes when choosing a solar panel brand

• Choosing on brand name alone. The same company sells several models with different wattage, efficiency and warranty terms. Compare models, not logos.
• Treating "tier-1" as a guarantee. The phrase is a financial bankability label, not a quality certificate for your specific panel. Ask for the datasheet and the model's ALMM listing instead.
• Ignoring heat. A panel that looks better on paper at 25°C can lose more output on a hot Anantapur or Hyderabad rooftop if its temperature coefficient is weaker.
• Forgetting the subsidy rules. If you want PM Surya Ghar support, a non-DCR panel or an unregistered installer can cost you the subsidy, however good the panel is.
• Letting the panel price drive everything. Saving a little on panels and losing far more through a weak structure, thin cables or missing surge protection is the most common false economy in rooftop solar.
• Not getting it in writing. The panel brand, model, wattage and warranty should all appear on your quotation before you pay an advance.

Sources

Accessed 23 October 2026. Capacity figures change often, so check each company's latest filings and official website.

• Adani Group annual report 2025, solar manufacturing section (connect.adani.com)
• Tata Power Solar press releases and company history (tatapowersolar.com); Wikipedia, "Tata Power Solar"
• Vikram Solar: Wikipedia, "Vikram Solar"; Outlook Business, February 2025
• Premier Energies: Mercom India; The Machine Maker, 2026
• RenewSys: SolarQuarter; The Machine Maker
• Goldi Solar: company profile; The Tribune, 2025
• Emmvee: pv magazine, April 2025; Wikipedia, "Emmvee Group"
• Saatvik Green Energy: Wikipedia, "Saatvik Green Energy"; company anniversary release
• Rayzon Solar: Energetica India; draft IPO coverage
• Waaree Energies: IIFL and company profiles
• Ministry of New and Renewable Energy, Approved List of Models and Manufacturers (mnre.gov.in)

Frequently asked questions

Which is the best solar panel company in India? There is no official ranking of solar panel companies in India. Established manufacturers include Adani Solar, Emmvee, Goldi Solar, Premier Energies, Rayzon Solar, RenewSys, Saatvik, Tata Power Solar, Vikram Solar and Waaree. Compare the specific panel model's datasheet, warranty, ALMM listing and DCR status rather than the brand name alone.

Who are the top 10 solar panel manufacturers in India? Ten established Indian solar panel manufacturers are Adani Solar, Emmvee, Goldi Solar, Premier Energies, Rayzon Solar, RenewSys, Saatvik Green Energy, Tata Power Solar, Vikram Solar and Waaree Energies. Each makes modules in India at scale, sells modern monocrystalline panels and appears on the government's approved list for listed models.

Which solar panel is best for home use in India? For most Indian homes, a monocrystalline panel (mono PERC or TOPCon) from an established manufacturer, with a 25-year performance warranty, BIS certification and an ALMM-listed model, is the practical choice. On small roofs, higher efficiency matters more; in hot regions, look for a good temperature coefficient.

Which is better for solar panels, Tata, Adani or Waaree? All three are established Indian solar panel manufacturers with long-running factories and wide availability, and Origian installs all three. The better choice depends on the specific model: compare wattage, efficiency, temperature coefficient, degradation, warranty terms and DCR status on each datasheet, along with the price for your system size.

What is the ALMM list for solar panels? The Approved List of Models and Manufacturers (ALMM) is maintained by India's Ministry of New and Renewable Energy. Only solar panel models on List-I qualify for government and government-assisted projects. Listing is model by model and changes often, so check the specific model you are quoted on the official MNRE page.

Do I need DCR solar panels for the PM Surya Ghar subsidy? Check the current panel rules on the official PM Surya Ghar portal before choosing a model, since subsidy schemes often require DCR panels made with Indian cells. The subsidy is also paid only when a DISCOM-registered vendor installs the system. Origian Power is not a registered PM Surya Ghar vendor.

Does the solar panel brand matter more than the installer? Both matter, but the installer often decides more. A good solar panel on a weak structure with thin cables, poor connectors and no proper earthing will underperform. A well-engineered system with a reliable mid-priced panel usually does better over 25 years. Judge the installer's design, hardware, warranties and service as carefully as the brand.