Solar energy stocks might have a direct impact on the GOI\u2019s (Government of India\u2019s) aim to achieve net zero emissions by 2070 across all the significant industries in India. As of now, India is harnessing about 748 GW of power from the sun, and the number is expected to increase further.<\/p>
The solar energy market is projected to grow at a CAGR of 40% by 2032 to reach $238 billion. This will benefit people living in Indian villages by making their energy needs eco-friendly. Moreover, the government is constantly increasing its efforts to promote solar power through the Solar Park Scheme, PLI (Production Linked Incentive), and PM Surya Ghar Muft Bijli Yojana. This will directly benefit the solar energy stocks by increasing their stock prices.<\/p>