Solar euphoria meets hard data.

India is set to add 100–110 GW of new module capacity in the next 2–3 years — pushing total capacity towards 200+ GW, far beyond near-term demand.

In its recent concall, KEC International highlighted that several solar companies preparing for IPOs are bidding aggressively just to inflate order books, creating optics of growth and scale to boost valuations — a red flag often missed in euphoric markets.

Retail still sees renewables as an “easy” long-term theme.

Renewables are inevitable but investors need to be selective about where they choose to paddle.