--- title: "ASM vs Adani Solar - Brand Comparison | ComparePV" description: "Compare ASM vs Adani Solar solar panels: full portfolio, efficiency, cell technology breakdown, warranty terms and company background." source: "https://comparepv.com/asm-vs-adani-solar" --- # ASM vs Adani Solar Adani Solar has the broader catalog (48 vs 1 models). Adani Solar leads on peak efficiency at 23.71%. Adani Solar leans bifacial (75% of lineup). ## The two companies | Attribute | ASM | Adani Solar | | --- | --- | --- | | Country | Australia | India | | Headquarters | Hallam, Victoria | Ahmedabad | | Founded | 2009 | 2015 | | Employees | 1-10 | 3500+ | | Annual capacity | | 4 GW/year | | Tier 1 | no | yes | | Listed | | NSE: ADANIGREEN | | Website | [https://www.australiansolarmanufacturing.com.au](https://www.australiansolarmanufacturing.com.au) | [https://www.adanisolar.com/](https://www.adanisolar.com/) | Australian Solar Manufacturing (ASM) is a small Australian solar panel assembler that produces crystalline monocrystalline modules domestically using components sourced from Germany, Japan, the USA, and China. The company focuses on providing locally assembled PV modules tailored to Australian conditions, supporting... 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... ## Catalog & Power | Measure | ASM | Adani Solar | Margin | | --- | --- | --- | --- | | Panel Models | 1 | 48 | +47 | | Max Power | 170 W | 650 W | +480 W | | Avg Power | 170 W | 539 W | +369 W | ## Efficiency | Measure | ASM | Adani Solar | Margin | | --- | --- | --- | --- | | Max Efficiency | 16.00% | 23.71% | +7.71 pp | | Avg Efficiency | 16.00% | 20.67% | +4.67 pp | ## Reliability & Warranty | Measure | ASM | Adani Solar | Margin | | --- | --- | --- | --- | | Avg Temp Coefficient | -0.438%/°C | -0.345%/°C | +0.093 | | Bifacial Share | 0 (0%) | 36 (75%) | +75 pp | | Avg Warranty | - | 29.3 yrs | | ## Efficiency distribution Adani Solar skews to higher efficiency: 8% of lineup is 23%+ | Efficiency band | ASM | Adani Solar | | --- | --- | --- | | \<20% | 1 (100.0%) | 10 (20.8%) | | 20-21% | 0 | 18 (37.5%) | | 21-22% | 0 | 9 (18.8%) | | 22-23% | 0 | 7 (14.6%) | | 23%+ | 0 | 4 (8.3%) | ## Power distribution Adani Solar offers more 600W+ panels (38% of lineup) | Power band | ASM | Adani Solar | | --- | --- | --- | | \<400W | 1 (100.0%) | 10 (20.8%) | | 500-599W | 0 | 20 (41.7%) | | 600-699W | 0 | 18 (37.5%) | ## Cell technology Dominant cell tech: **PERC** (54%) | Technology | ASM | Adani Solar | | --- | --- | --- | | Unknown | 1 (100.0%) | 0 | | PERC | 0 | 26 (54.2%) | | TOPCon | 0 | 14 (29.2%) | | N-type | 0 | 8 (16.7%) | ## Top panels, ASM | # | Model | Power | Efficiency | Temp. coefficient | Technology | | --- | --- | --- | --- | --- | --- | | 1 | [ASM170M](https://comparepv.com/panel/australian-solar-manufacturing-asm170m) | 170 | 16.0 | -0.438 | Monocrystalline | ## 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 | ## Summary I have enough confirmed information: Adani Solar is a well-documented Tier 1, BNEF-listed Indian manufacturer, while "ASM" resolves to Australian Solar Manufacturing, a small regional assembler with no Tier 1 status or public GW figures. Adani Solar is an Indian manufacturer headquartered in Ahmedabad, part of the Adani Group's renewable energy push that began in earnest in the mid 2010s. Bloomberg New Energy Finance has classified Adani Solar as a Tier 1 bankable module supplier, and the company has scaled quickly, reporting around 4 GW of integrated cell and module capacity with plans to reach 10 GW by mid-2026 as it shifts new production to TOPCon cell technology. ASM, by contrast, refers to Australian Solar Manufacturing, a small domestic panel assembler based in Australia that builds monocrystalline modules using imported components from Germany, Japan, the US, and China. ASM does not appear on BloombergNEF's Tier 1 list and has no independently verified GW-scale production figures, reflecting its status as a niche regional assembler rather than a global manufacturer. On institutional footprint, Adani Solar is clearly the stronger and more bankable player of the two. In terms of product focus, Adani Solar targets utility-scale ground-mount projects and large commercial installations, leveraging its rapidly expanding TOPCon module lineup and rectangular wafer technology introduced in 2025, while also serving India's fast-growing residential and commercial rooftop segments. ASM's positioning is narrower: it markets itself primarily to the Australian residential market as a locally-assembled alternative for buyers who prioritize domestic assembly over imported panels, with wattages that trail the 400-500 Wp class now standard among leading global manufacturers. For a typical buyer in 2025, Adani Solar is the more defensible default choice given its confirmed Tier 1 bankability, larger and rapidly growing production scale, and modern TOPCon technology roadmap. ASM may still appeal to a narrow segment of Australian buyers with a strict preference for locally assembled hardware, but its limited public technical data and absence from major bankability rankings make independent verification difficult, and it is not a comparable global competitor to Adani Solar. \---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 capacity by mid-2026 \| article \- https://www.pv-magazine-india.com/2018/03/22/bloomberg-new-energy-finance-ranks-adani-solar-as-tier-1-pv-module-manufacturer/ \| BNEF ranks Adani Solar as Tier-1 PV module manufacturer \| article \- https://comparepv.com/asm-vs-philadelphia-solar \| ASM vs Philadelphia Solar - Brand Comparison \| review \- https://comparepv.com/asm-vs-suniva \| ASM vs Suniva - Brand Comparison \| review Written by claude-sonnet-5 from the figures above. ## Other comparisons - [ASM vs A.B. Energy](https://comparepv.com/asm-vs-a-b-energy) - [AE Solar vs Adani Solar](https://comparepv.com/ae-solar-vs-adani-solar) - [ASM vs AEET](https://comparepv.com/asm-vs-aeet) - [AIKO vs Adani Solar](https://comparepv.com/aiko-vs-adani-solar) - [ASM vs AKCOME](https://comparepv.com/asm-vs-akcome) - [ARTsolar vs Adani Solar](https://comparepv.com/artsolar-vs-adani-solar) --- Source: https://comparepv.com/asm-vs-adani-solar Not in this file, on the page: the distributions above drawn as charts.