ASM vs Waaree - solar panel manufacturer comparison
Waaree has the broader catalog (222 vs 1 models). Waaree leads on peak efficiency at 23.51%. Waaree leans bifacial (38% of lineup).
Both catalogues are read from the manufacturers' own datasheets. A brand is not scored against the market here, only against the other brand on this page.
The two companies
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...
- Founded
- 2009
- Headquarters
- Hallam, Victoria, Australia
- Employees
- 1-10
Waaree Energies Ltd. is a leading global energy transition company committed to delivering innovative, high-quality solar and sustainable energy solutions. Established in 1990 and headquartered in Mumbai, India, the company operates across 20+ countries with an integrated portfolio that spans solar modules, EPC...
- Founded
- 1990
- Headquarters
- Mumbai, India
- Annual capacity
- 13.3 GW/year
- Employees
- 8500+
- Listed
- NSE: WAAREEENER
- Tier 1 bankable
- Yes
Catalogue against catalogue
An average over a catalogue describes the range a manufacturer publishes, not the module you would buy. A brand with two flagship panels and eighty older ones averages worse than one that has retired its back catalogue.
What each of them builds
Waaree skews to higher efficiency: 4% of lineup is 23%+
Waaree offers more 600W+ panels (12% of lineup)
Dominant cell tech: <strong>PERC</strong> (48%)
The flagships
Written summary
ASM does not surface in any major industry databases, Tier 1 lists, or editorial sources after several targeted searches, so factual claims about it must remain hedged. Waaree Energies, by contrast, is a well-documented, publicly listed Indian manufacturer founded in 1990 and headquartered in Mumbai. Waaree has held a BloombergNEF Tier 1 designation for more than 35 consecutive quarters and, in early 2025, became the first Indian manufacturer to earn PV Tech's Module Tech Bankability "A" rating. Its global nameplate manufacturing capacity has grown past 22 GW, split between facilities in Gujarat, India, and a 2.6 GW plant in the United States. ASM, by contrast, appears to be a smaller or more regional brand whose institutional footprint is not independently verifiable at this time; Waaree carries the significantly stronger bankability standing.
On the product side, Waaree offers a broad catalogue spanning Mono PERC, N-type TOPCon, and HJT modules, with its Plexus HJT bifacial series targeting high-yield applications and outputs reportedly exceeding 700 W for utility-scale ground mounts. The company serves residential rooftops, commercial and industrial installations, and large utility projects across India, the United States, and more than 20 other countries. Without confirmed product data for ASM from a credible editorial or testing source, a direct module-level comparison is not possible; ASM is best treated as a brand that has not yet established a public performance record comparable to Waaree's.
For most buyers in 2025 - particularly those financing larger installations or requiring bankable documentation for project lenders - Waaree is the clearer default choice between the two. Its long Tier 1 track record, dual-market manufacturing (India and the US), technology breadth from PERC through HJT, and an independently validated bankability rating give it a verifiable edge. ASM should only be seriously considered if local availability, pricing, or a specific installer relationship provides a compelling reason, and then only after requesting full third-party test data and warranty terms directly from the manufacturer.
Generated by Claude Sonnet · 2026-06-15
Other brand comparisons
Shop prices: See 26 Waaree offers
Comparisons are computed from manufacturer datasheets held in the ComparePV database and may not reflect a brand's complete current lineup. Nothing on this page is paid placement.