---
title: "ASM vs Goldi Solar - Brand Comparison | ComparePV"
description: "Compare ASM vs Goldi Solar solar panels: full portfolio, efficiency, cell technology breakdown, warranty terms and company background."
source: "https://comparepv.com/asm-vs-goldi-solar"
---

# ASM vs Goldi Solar

Goldi Solar has the broader catalog (145 vs 1 models). Goldi Solar leads on peak efficiency at 23.03%. Goldi Solar leans bifacial (79% of lineup).


## The two companies


| Attribute | ASM | Goldi Solar |
| --- | --- | --- |
| Country | Australia | India |
| Headquarters | Hallam, Victoria | Surat |
| Founded | 2009 | 2011 |
| Employees | 1-10 | 250-499 Employees |
| Annual capacity |  | 15.2 GW/year |
| Tier 1 | no | yes |
| Listed |  |  |
| Website | [https://www.australiansolarmanufacturing.com.au](https://www.australiansolarmanufacturing.com.au) | [http://www.goldisolar.com](http://www.goldisolar.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...

Goldi Solar is a leading Indian solar PV module manufacturer and EPC service provider committed to accelerating the transition to sustainable energy. Established in 2011 and headquartered in Surat, Gujarat, the company offers cutting-edge solar solutions that power industries, businesses, and communities across more...


## Catalog & Power


| Measure | ASM | Goldi Solar | Margin |
| --- | --- | --- | --- |
| Panel Models | 1 | 145 | +144 |
| Max Power | 170 W | 715 W | +545 W |
| Avg Power | 170 W | 513 W | +343 W |


## Efficiency


| Measure | ASM | Goldi Solar | Margin |
| --- | --- | --- | --- |
| Max Efficiency | 16.00% | 23.03% | +7.03 pp |
| Avg Efficiency | 16.00% | 21.16% | +5.16 pp |


## Reliability & Warranty


| Measure | ASM | Goldi Solar | Margin |
| --- | --- | --- | --- |
| Avg Temp Coefficient | -0.438%/°C | -0.326%/°C | +0.112 |
| Bifacial Share | 0 (0%) | 115 (79%) | +79 pp |
| Avg Warranty | - | 27.6 yrs |  |


## Efficiency distribution

Goldi Solar skews to higher efficiency: 1% of lineup is 23%+


| Efficiency band | ASM | Goldi Solar |
| --- | --- | --- |
| \<20% | 1 (100.0%) | 4 (2.8%) |
| 20-21% | 0 | 67 (46.2%) |
| 21-22% | 0 | 47 (32.4%) |
| 22-23% | 0 | 25 (17.2%) |
| 23%+ | 0 | 2 (1.4%) |


## Power distribution

Goldi Solar offers more 600W+ panels (13% of lineup)


| Power band | ASM | Goldi Solar |
| --- | --- | --- |
| \<400W | 1 (100.0%) | 8 (5.5%) |
| 400-499W | 0 | 59 (40.7%) |
| 500-599W | 0 | 59 (40.7%) |
| 600-699W | 0 | 12 (8.3%) |
| 700W+ | 0 | 7 (4.8%) |


## Cell technology

Dominant cell tech: **PERC** (74%)


| Technology | ASM | Goldi Solar |
| --- | --- | --- |
| Unknown | 1 (100.0%) | 0 |
| PERC | 0 | 107 (73.8%) |
| TOPCon | 0 | 31 (21.4%) |
| HJT | 0 | 7 (4.8%) |


## 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, Goldi Solar


| # | Model | Power | Efficiency | Temp. coefficient | Technology |
| --- | --- | --- | --- | --- | --- |
| 1 | [GS12-T132-GF-715](https://comparepv.com/panel/goldi-solar-gs12-t132-gf-715) | 715 | 23.0 | -0.280 | Monocrystalline |
| 2 | [GS12-T132-GF-710](https://comparepv.com/panel/goldi-solar-gs12-t132-gf-710) | 710 | 22.9 | -0.280 | Monocrystalline |
| 3 | [G12 Series 710Wp](https://comparepv.com/panel/goldi-solar-g12-series-710wp) | 710 | 22.9 | -0.259 | Monocrystalline |
| 4 | [GS12-T132-GF-705](https://comparepv.com/panel/goldi-solar-gs12-t132-gf-705) | 705 | 22.7 | -0.280 | Monocrystalline |
| 5 | [G12 Series 705Wp](https://comparepv.com/panel/goldi-solar-g12-series-705wp) | 705 | 22.7 | -0.259 | Monocrystalline |
| 6 | [GS12-T132-GF-700](https://comparepv.com/panel/goldi-solar-gs12-t132-gf-700) | 700 | 22.5 | -0.280 | Monocrystalline |
| 7 | [G12 Series 700Wp](https://comparepv.com/panel/goldi-solar-g12-series-700wp) | 700 | 22.5 | -0.259 | Monocrystalline |
| 8 | [GS12-T132-GF-695](https://comparepv.com/panel/goldi-solar-gs12-t132-gf-695) | 695 | 22.4 | -0.280 | Monocrystalline |
| 9 | [G12 Series 695Wp](https://comparepv.com/panel/goldi-solar-g12-series-695wp) | 695 | 22.4 | -0.259 | Monocrystalline |
| 10 | [GS12-T132-GF-690](https://comparepv.com/panel/goldi-solar-gs12-t132-gf-690) | 690 | 22.2 | -0.280 | Monocrystalline |


## Summary

ASM, or Australian Solar Manufacturing, is a small domestic assembler based in Australia that produces crystalline silicon modules using imported components sourced from Germany, Japan, the United States, and China. The company positions itself as the only locally assembled panel brand for the Australian market, and its scale is regional rather than global - no verified GW-per-year production figure is available from credible industry sources, and it does not appear on the BloombergNEF Tier 1 bankability list. Goldi Solar, by contrast, is an Indian manufacturer headquartered in Surat, Gujarat, founded in 2011. The company holds confirmed BNEF Tier 1 bankability status and has been reporting module manufacturing capacity in the multi-gigawatt range, with its own figures citing 15.2 GW of nameplate capacity. On institutional footprint, Goldi Solar is clearly the larger and more financeable of the two.

ASM's product offering is built around conventional crystalline modules suited to Australian residential rooftops, with the brand's value proposition resting on domestic assembly and compliance with local conditions rather than cutting-edge cell technology. Goldi Solar serves a much wider range of segments - residential rooftops, commercial installations, and utility-scale ground-mount projects - and has publicly confirmed a shift toward high-efficiency TOPCon bifacial modules under its HELOC Plus G12 series, as well as a newer IBC back-contact line reaching up to 24.6% efficiency. Pv-magazine reported on the 665 W IBC module in late 2025. Goldi Solar has also been recognised as a PVEL Top Performer by Kiwa, a classification awarded to a small share of global manufacturers.

For most buyers outside Australia who are evaluating panels on bankability, technology roadmap, and supply-chain depth, Goldi Solar is the stronger default choice in 2025. ASM may be a meaningful option only for Australian residential customers who place a premium on domestically assembled product and local supply continuity, but it cannot match Goldi Solar on scale, certified efficiency, or institutional recognition.

\---LINKS---

\- https://www.pv-magazine.com/2025/10/30/goldi-solar-unveils-665-w-back-contact-pv-panel-with-24-6-efficiency/ \| Goldi Solar releases 665 W back-contact PV panel with 24.6% efficiency \| article

\- https://www.pv-magazine-india.com/2024/10/07/goldi-solar-to-start-pv-cell-production-from-mid-2025/ \| Goldi Solar to start PV cell production from mid-2025 \| article

\- https://www.saurenergy.com/solar-energy-news/goldi-solar-ranked-among-bankable-tier-1-solar-module-makers-by-bnef \| Goldi Solar ranked among Bankable Tier 1 solar module makers by BNEF \| article

\- https://www.enfsolar.com/asm \| Australian Solar Manufacturing Pty Ltd - ENF Solar profile \| article

\- https://www.solarfeeds.com/biz/australian-solar-manufacturing-pty-ltd/ \| Australian Solar Manufacturing - production capacity overview \| article

Sources:

\- \[Goldi Solar releases 665 W back-contact PV panel - pv magazine\](https://www.pv-magazine.com/2025/10/30/goldi-solar-unveils-665-w-back-contact-pv-panel-with-24-6-efficiency/)

\- \[Goldi Solar to start PV cell production from mid-2025 - pv magazine India\](https://www.pv-magazine-india.com/2024/10/07/goldi-solar-to-start-pv-cell-production-from-mid-2025/)

\- \[Goldi Solar ranked Tier 1 by BNEF - Saur Energy\](https://www.saurenergy.com/solar-energy-news/goldi-solar-ranked-among-bankable-tier-1-solar-module-makers-by-bnef)

\- \[Australian Solar Manufacturing - ENF Solar\](https://www.enfsolar.com/asm)

\- \[Australian Solar Manufacturing overview - SolarFeeds\](https://www.solarfeeds.com/biz/australian-solar-manufacturing-pty-ltd/)

Written by claude-sonnet from the figures above.


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- [ASM vs A.B. Energy](https://comparepv.com/asm-vs-a-b-energy)
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- [ARTsolar vs Goldi Solar](https://comparepv.com/artsolar-vs-goldi-solar)


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Source: https://comparepv.com/asm-vs-goldi-solar

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