---
title: "Adani Solar vs Vikram Solar - Brand Comparison | ComparePV"
description: "Compare Adani Solar vs Vikram Solar solar panels: full portfolio, efficiency, cell technology breakdown, warranty terms and company background."
source: "https://comparepv.com/adani-solar-vs-vikram-solar"
image: "https://comparepv.com/og/compare/manufacturers/adani-solar/vikram-solar.png"
---

# Adani Solar vs Vikram Solar

Vikram Solar has the broader catalog (213 vs 48 models). Vikram Solar leads on peak efficiency at 24.80%.


## The two companies


| Attribute | Adani Solar | Vikram Solar |
| --- | --- | --- |
| Country | India | India |
| Headquarters | Ahmedabad | Kolkata |
| Founded | 2015 | 2005 |
| Employees | 3500+ | 1,895 |
| Annual capacity | 4 GW/year | 9.5 GW/year |
| Tier 1 | yes | yes |
| Listed | NSE: ADANIGREEN | NSE, BSE: VIKRAMSOLR |
| Website | [https://www.adanisolar.com/](https://www.adanisolar.com/) | [http://www.vikramsolar.com](http://www.vikramsolar.com) |

Adani Solar is a fully integrated, high-efficiency solar panel manufacturer and is part of the Adani Group. They are building a comprehensive solar manufacturing ecosystem, producing everything from metallurgical grade silicon to solar modules. The company is committed to advancing India's renewable energy...

Vikram Solar Limited is a leading Indian solar photovoltaic (PV) module manufacturer and solar solutions provider. They offer engineering, procurement, construction (EPC), and operations & maintenance (O&M) services for solar plants. The company manufactures high-efficiency solar PV modules and has a pan-India...


## Catalog & Power


| Measure | Adani Solar | Vikram Solar | Margin |
| --- | --- | --- | --- |
| Panel Models | 48 | 213 | +165 |
| Max Power | 650 W | 735 W | +85 W |
| Avg Power | 539 W | 560 W | +21 W |


## Efficiency


| Measure | Adani Solar | Vikram Solar | Margin |
| --- | --- | --- | --- |
| Max Efficiency | 23.71% | 24.80% | +1.09 pp |
| Avg Efficiency | 20.67% | 21.58% | +0.91 pp |


## Reliability & Warranty


| Measure | Adani Solar | Vikram Solar | Margin |
| --- | --- | --- | --- |
| Avg Temp Coefficient | -0.345%/°C | -0.330%/°C | +0.016 |
| Bifacial Share | 36 (75%) | 161 (76%) | +1 pp |
| Avg Warranty | 29.3 yrs | 28.7 yrs | +0.6 yr |


## Efficiency distribution

Vikram Solar skews to higher efficiency: 13% of lineup is 23%+


| Efficiency band | Adani Solar | Vikram Solar |
| --- | --- | --- |
| \<20% | 10 (20.8%) | 11 (5.2%) |
| 20-21% | 18 (37.5%) | 42 (19.7%) |
| 21-22% | 9 (18.8%) | 106 (49.8%) |
| 22-23% | 7 (14.6%) | 27 (12.7%) |
| 23%+ | 4 (8.3%) | 27 (12.7%) |


## Power distribution

Vikram Solar offers more 600W+ panels (45% of lineup)


| Power band | Adani Solar | Vikram Solar |
| --- | --- | --- |
| \<400W | 10 (20.8%) | 12 (5.6%) |
| 500-599W | 20 (41.7%) | 52 (24.4%) |
| 600-699W | 18 (37.5%) | 77 (36.2%) |
| 400-499W | 0 | 54 (25.4%) |
| 700W+ | 0 | 18 (8.5%) |


## Cell technology

Dominant cell tech: PERC (54%)

Dominant cell tech: PERC (71%)


| Technology | Adani Solar | Vikram Solar |
| --- | --- | --- |
| PERC | 26 (54.2%) | 152 (71.4%) |
| TOPCon | 14 (29.2%) | 7 (3.3%) |
| N-type | 8 (16.7%) | 36 (16.9%) |
| HJT | 0 | 12 (5.6%) |
| Back Contact | 0 | 6 (2.8%) |


## Top panels, Adani Solar


| # | Model | Power | Efficiency | Temp. coefficient | Technology |
| --- | --- | --- | --- | --- | --- |
| 1 | [ASM-M12-132-650](https://comparepv.com/panel/adani-solar-asm-m12-132-650) | 650 | 20.9 | -0.340 | Monocrystalline |
| 2 | [ASB-M12-132-650](https://comparepv.com/panel/adani-solar-asb-m12-132-650) | 650 | 20.9 | -0.350 | Monocrystalline |
| 3 | [ASM-M12-132-645](https://comparepv.com/panel/adani-solar-asm-m12-132-645) | 645 | 20.7 | -0.340 | Monocrystalline |
| 4 | [ASB-M12-132-645](https://comparepv.com/panel/adani-solar-asb-m12-132-645) | 645 | 20.7 | -0.350 | Monocrystalline |
| 5 | [ASM-M12-132-640](https://comparepv.com/panel/adani-solar-asm-m12-132-640) | 640 | 20.6 | -0.340 | Monocrystalline |
| 6 | [ASB-M12-132-640](https://comparepv.com/panel/adani-solar-asb-m12-132-640) | 640 | 20.6 | -0.350 | Monocrystalline |
| 7 | [AB-G12R-132-640](https://comparepv.com/panel/adani-solar-ab-g12r-132-640) | 640 | 23.7 | -0.280 | Monocrystalline |
| 8 | [ASM-M12-132-635](https://comparepv.com/panel/adani-solar-asm-m12-132-635) | 635 | 20.4 | -0.340 | Monocrystalline |
| 9 | [ASB-M12-132-635](https://comparepv.com/panel/adani-solar-asb-m12-132-635) | 635 | 20.4 | -0.350 | Monocrystalline |
| 10 | [AB-G12R-132-635](https://comparepv.com/panel/adani-solar-ab-g12r-132-635) | 635 | 23.5 | -0.280 | Monocrystalline |


## Top panels, Vikram Solar


| # | Model | Power | Efficiency | Temp. coefficient | Technology |
| --- | --- | --- | --- | --- | --- |
| 1 | [SURYAVA VSMDH.66.735.05](https://comparepv.com/panel/vikram-solar-suryava-vsmdh-66-735-05) | 735 | 23.7 | -0.260 | Monocrystalline |
| 2 | [SURYAVA VSMDH.66.730.05](https://comparepv.com/panel/vikram-solar-suryava-vsmdh-66-730-05) | 730 | 23.5 | -0.260 | Monocrystalline |
| 3 | [HYPERSOL VSMDH.66.730.05](https://comparepv.com/panel/vikram-solar-hypersol-vsmdh-66-730-05) | 730 | 23.5 | -0.280 | Monocrystalline |
| 4 | [SURYAVA VSMDH.66.725.05](https://comparepv.com/panel/vikram-solar-suryava-vsmdh-66-725-05) | 725 | 23.3 | -0.260 | Monocrystalline |
| 5 | [HYPERSOL VSMDH.66.725.05](https://comparepv.com/panel/vikram-solar-hypersol-vsmdh-66-725-05) | 725 | 23.3 | -0.280 | Monocrystalline |
| 6 | [SURYAVA VSMDH.66.720.05](https://comparepv.com/panel/vikram-solar-suryava-vsmdh-66-720-05) | 720 | 23.2 | -0.260 | Monocrystalline |
| 7 | [HYPERSOL VSMDH.66.AAA.05-720](https://comparepv.com/panel/vikram-solar-hypersol-vsmdh-66-aaa-05-720) | 720 | 23.2 | -0.280 | Monocrystalline |
| 8 | [HYPERSOL VSMDH.66.720.05](https://comparepv.com/panel/vikram-solar-hypersol-vsmdh-66-720-05) | 720 | 23.2 | -0.280 | Monocrystalline |
| 9 | [SURYAVA VSMDH.66.715.05](https://comparepv.com/panel/vikram-solar-suryava-vsmdh-66-715-05) | 715 | 23.0 | -0.260 | Monocrystalline |
| 10 | [HYPERSOL VSMDH.66.715.05](https://comparepv.com/panel/vikram-solar-hypersol-vsmdh-66-715-05) | 715 | 23.0 | -0.280 | Monocrystalline |


## Summary

Adani Solar is an Indian manufacturer headquartered in Ahmedabad, part of the Adani Group's broader energy and infrastructure conglomerate, and it entered PV manufacturing in the mid-2010s as part of the group's push into vertically integrated clean energy. Adani Solar was assessed as a Tier-1 bankable manufacturer by BloombergNEF as early as 2018 and has since scaled aggressively, with cell and module capacity around 4 GW as of 2024 and plans to reach 10 GW of integrated cell and module capacity by mid-2026, backed by parallel expansion into polysilicon, wafer, glass and backsheet production. Vikram Solar, headquartered in Kolkata, is one of India's older dedicated module makers, founded in the mid-2000s, and it too holds a Tier-1 classification from BloombergNEF; its manufacturing footprint has grown from roughly 3.5 GW to about 9.5 GW of nameplate module capacity through 2025, following expansions at its Falta, Oragadam and Vallam facilities. Given the scale of Adani's parent conglomerate and its move toward full upstream integration (polysilicon to module), Adani currently presents the stronger institutional and balance-sheet footprint, though Vikram Solar's longer standalone track record in pure-play module manufacturing gives it a well-established reputation of its own.

Both companies produce a mix of Mono PERC and TOPCon modules, with TOPCon increasingly positioned as the mainstream workhorse technology for both residential and utility-scale segments in India. Adani Solar structures its lineup by tier, offering a budget-oriented Mono PERC "Shine" series for cost-sensitive residential and PM Surya Ghar rooftop installations, a higher-efficiency "Elan Shine" TOPCon line aimed at space-constrained urban rooftops, and an "Eternal Pride" series built for utility-scale ground mounts and large commercial rooftops. Vikram Solar has similarly expanded its TOPCon capacity under India's PLI scheme and supplies modules across residential, commercial and utility-scale projects, and it has also invested in HJT-capable lines, giving it a slightly broader technology spread at the premium end, though HJT remains a smaller, higher-cost niche compared to mainstream TOPCon output at both companies.

For a typical Indian buyer in 2025, the two brands are largely comparable as domestically manufactured, BloombergNEF Tier-1, ALMM-listed options, so the choice often comes down to project scale and local support rather than a clear technology gap. Adani Solar's larger group backing and faster capacity build-out may appeal to large utility-scale developers prioritizing long-term supply security, while Vikram Solar's longer specialization in module manufacturing and modest HJT offering can suit buyers wanting a proven pure-play track record or slightly more technology variety at the premium tier.

\---LINKS---

\- https://www.pv-magazine.com/2024/10/04/adani-to-hit-10-gw-of-solar-cell-module-manufacturing-capacity-by-mid-2026/ \| Adani to hit 10 GW of solar cell, module manufacturing capacity by 2026 \| article

\- https://www.pv-magazine-india.com/2018/03/22/bloomberg-new-energy-finance-ranks-adani-solar-as-tier-1-pv-module-manufacturer/ \| BloombergNEF ranks Adani Solar as Tier-1 PV module manufacturer \| article

\- https://www.vikramsolar.com/press-releases/bloomberg-new-energy-finance-classifies-vikram-solar-as-a-tier-1-manufacturer/ \| BloombergNEF classifies Vikram Solar as a Tier-1 manufacturer \| article

\- https://renewablewatch.in/2025/02/20/vikram-solar-gets-1-gw-capacity-boost-upgrades-facility-with-superior-efficiency-solar-modules/ \| Vikram Solar gets 1 GW capacity boost, upgrades to TOPCon/HJT lines \| article

\- https://en.wikipedia.org/wiki/Vikram\_Solar \| Vikram Solar - capacity and manufacturing facility overview \| article

Written by claude-sonnet-5 from the figures above.


## Other comparisons

- [Adani Solar vs A.B. Energy](https://comparepv.com/adani-solar-vs-a-b-energy)
- [AE Solar vs Vikram Solar](https://comparepv.com/ae-solar-vs-vikram-solar)
- [Adani Solar vs AEET](https://comparepv.com/adani-solar-vs-aeet)
- [AIKO vs Vikram Solar](https://comparepv.com/aiko-vs-vikram-solar)
- [Adani Solar vs AKCOME](https://comparepv.com/adani-solar-vs-akcome)
- [ARTsolar vs Vikram Solar](https://comparepv.com/artsolar-vs-vikram-solar)


---

Source: https://comparepv.com/adani-solar-vs-vikram-solar

Not in this file, on the page: the distributions above drawn as charts.