PM Modi’s game-changing solar push – These stocks can ride the surge

In a groundbreaking move, Prime Minister Narendra Modi, fresh from the historic consecration ceremony at the Ram temple in Ayodhya, announced a visionary scheme on January 22. The Prime Minister’s first decision post-Ayodhya is set to illuminate the lives of millions with the launch of the ‘Pradhanmantri Suryoday Yojana,’ targeting the installation of solar rooftops on one crore houses.

Lighting Up Homes and Energizing India’s Future

PM Modi expressed his commitment to the initiative, emphasizing its potential to benefit both the poor and the middle class by reducing electricity bills. Beyond the immediate economic impact, Modi sees this as a crucial step towards making India self-reliant in the energy sector.

“This will not only reduce the electricity bill of the poor and middle class but will also make India self-reliant in the energy sector,” the PM declared in a social media post.

Renewable Energy: A Divine Inspiration

Drawing inspiration from the spiritual energy of Ayodhya, PM Modi highlighted the symbolic connection between the solar initiative and the auspicious consecration ceremony.

He stated, “All the devotees of the world always get energy from the light of Suryavanshi Lord Shri Ram,” underscoring the spiritual significance behind this transformative decision.

Analysing the potential impact of this information, it becomes evident that solar companies are likely to reap substantial benefits. Let’s delve into the stocks that stand to gain from this transformative announcement.

Scale of asset base relative to market value

According to a recent CEEW study, Indian households have the technical capacity to deploy over 640 GW of rooftop solar. Currently, around 7-8 lakh households have already benefited from the government’s capital subsidy program, contributing to about 4 GW of solar capacity.

India’s Renewable Energy Ascent

Looking beyond the household impact, solar and wind energy are poised to drive two-thirds of India’s power generation growth by 2032. This aligns with India’s ambitious renewable energy targets, as outlined by a recent analysis from global energy think tank Ember.

PM Modi’s decisive move to solarize one crore households not only addresses immediate energy concerns but also propels India toward a sustainable and self-reliant future.

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.