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

# DMEGC vs Horay Solar

Horay Solar has the broader catalog (182 vs 150 models). DMEGC leads on peak efficiency at 23.50%.


## The two companies


| Attribute | DMEGC | Horay Solar |
| --- | --- | --- |
| Country | China | China |
| Headquarters | Dongyang, Zhejiang Province | Wuxi, Jiangsu Province |
| Founded | 1980 | 2010 |
| Employees | 18,831 | 400 |
| Annual capacity | 21 GW/year | 2.5 GW/year |
| Tier 1 | yes | yes |
| Listed | Shenzhen Stock Exchange: SZ: 002056 |  |
| Website | [https://www.dmegcsolar.com](https://www.dmegcsolar.com) | [http://www.horaysolar.com](http://www.horaysolar.com) |

DMEGC Solar, founded in 1980, is a global provider of renewable energy solutions, specializing in high-efficiency solar panels for residential, commercial, and utility-scale projects. The company has six manufacturing bases and is known for its integrated supply chain, from wafers to modules. DMEGC Solar is committed...

Horay Solar is an integrated photovoltaic company specializing in the R&D, production, and sales of solar modules and solar power systems. They are committed to globalization and offer standard and customized solar module solutions. The company's products are exported globally, providing efficient clean energy...


## Catalog & Power


| Measure | DMEGC | Horay Solar | Margin |
| --- | --- | --- | --- |
| Panel Models | 150 | 182 | +32 |
| Max Power | 720 W | 720 W |  |
| Avg Power | 476 W | 536 W | +60 W |


## Efficiency


| Measure | DMEGC | Horay Solar | Margin |
| --- | --- | --- | --- |
| Max Efficiency | 23.50% | 23.30% | +0.20 pp |
| Avg Efficiency | 21.39% | 22.46% | +1.07 pp |


## Reliability & Warranty


| Measure | DMEGC | Horay Solar | Margin |
| --- | --- | --- | --- |
| Avg Temp Coefficient | -0.291%/°C | -0.280%/°C | +0.011 |
| Bifacial Share | 109 (73%) | 122 (67%) | +6 pp |
| Avg Warranty | 30.0 yrs | 30.0 yrs |  |


## Efficiency distribution

DMEGC skews to higher efficiency: 21% of lineup is 23%+


| Efficiency band | DMEGC | Horay Solar |
| --- | --- | --- |
| \<20% | 24 (16.0%) | 0 |
| 20-21% | 4 (2.7%) | 0 |
| 21-22% | 11 (7.3%) | 24 (13.2%) |
| 22-23% | 79 (52.7%) | 133 (73.1%) |
| 23%+ | 32 (21.3%) | 25 (13.7%) |


## Power distribution

Horay Solar offers more 600W+ panels (20% of lineup)


| Power band | DMEGC | Horay Solar |
| --- | --- | --- |
| \<400W | 19 (12.7%) | 0 |
| 400-499W | 89 (59.3%) | 55 (30.2%) |
| 500-599W | 23 (15.3%) | 91 (50.0%) |
| 600-699W | 14 (9.3%) | 33 (18.1%) |
| 700W+ | 5 (3.3%) | 3 (1.6%) |


## Cell technology

Dominant cell tech: **TOPCon** (73%)

Dominant cell tech: **TOPCon** (56%)


| Technology | DMEGC | Horay Solar |
| --- | --- | --- |
| TOPCon | 109 (72.7%) | 102 (56.0%) |
| N-type | 41 (27.3%) | 80 (44.0%) |


## Top panels, DMEGC


| # | Model | Power | Efficiency | Temp. coefficient | Technology |
| --- | --- | --- | --- | --- | --- |
| 1 | [DM720G12T-B66HSW](https://comparepv.com/panel/dmegc-hengdian-group-dm720g12t-b66hsw) | 720 | 23.2 | -0.290 | Monocrystalline |
| 2 | [DM715G12T-B66HSW](https://comparepv.com/panel/dmegc-hengdian-group-dm715g12t-b66hsw) | 715 | 23.0 | -0.290 | Monocrystalline |
| 3 | [DM710G12T-B66HSW](https://comparepv.com/panel/dmegc-hengdian-group-dm710g12t-b66hsw) | 710 | 22.9 | -0.290 | Monocrystalline |
| 4 | [DM705G12T-B66HSW](https://comparepv.com/panel/dmegc-hengdian-group-dm705g12t-b66hsw) | 705 | 22.7 | -0.290 | Monocrystalline |
| 5 | [DM700G12T-B66HSW](https://comparepv.com/panel/dmegc-hengdian-group-dm700g12t-b66hsw) | 700 | 22.5 | -0.290 | Monocrystalline |
| 6 | [DM695G12T-B66HSW](https://comparepv.com/panel/dmegc-hengdian-group-dm695g12t-b66hsw) | 695 | 22.4 | -0.290 | Monocrystalline |
| 7 | [DM650M10T-B78HSW](https://comparepv.com/panel/dmegc-hengdian-group-dm650m10t-b78hsw) | 650 | 23.3 | -0.290 | Monocrystalline |
| 8 | [DM645M10T-B78HSW](https://comparepv.com/panel/dmegc-hengdian-group-dm645m10t-b78hsw) | 645 | 23.1 | -0.290 | Monocrystalline |
| 9 | [DM640M10T-B78HSW](https://comparepv.com/panel/dmegc-hengdian-group-dm640m10t-b78hsw) | 640 | 22.9 | -0.290 | Monocrystalline |
| 10 | [DM635G12RT-B66HSW](https://comparepv.com/panel/hengdian-group-dmegc-magnetics-co-ltd-dm635g12rt-b66hsw) | 635 | 23.5 | -0.290 | Monocrystalline |


## Top panels, Horay Solar


| # | Model | Power | Efficiency | Temp. coefficient | Technology |
| --- | --- | --- | --- | --- | --- |
| 1 | [HS720TC-MHG-D](https://comparepv.com/panel/horay-solar-hs720tc-mhg-d) | 720 | 23.2 | -0.280 | Monocrystalline |
| 2 | [HS710TC-MHG-D](https://comparepv.com/panel/horay-solar-hs710tc-mhg-d) | 710 | 22.9 | -0.280 | Monocrystalline |
| 3 | [HS700TC-MHG-D](https://comparepv.com/panel/horay-solar-hs700tc-mhg-d) | 700 | 22.5 | -0.280 | Monocrystalline |
| 4 | [HS690TC-MHG-D](https://comparepv.com/panel/horay-solar-hs690tc-mhg-d) | 690 | 22.2 | -0.280 | Monocrystalline |
| 5 | [HS680TC-MHG-D](https://comparepv.com/panel/horay-solar-hs680tc-mhg-d) | 680 | 21.9 | -0.280 | Monocrystalline |
| 6 | [HS650TC-MHD-D](https://comparepv.com/panel/horay-solar-hs650tc-mhd-d) | 650 | 23.3 | -0.280 | Monocrystalline |
| 7 | [HS645TC-MHD-D](https://comparepv.com/panel/horay-solar-hs645tc-mhd-d) | 645 | 23.1 | -0.280 | Monocrystalline |
| 8 | [HS640TC-MHD-D](https://comparepv.com/panel/horay-solar-hs640tc-mhd-d) | 640 | 22.9 | -0.280 | Monocrystalline |
| 9 | [HS635TC-MHD-D](https://comparepv.com/panel/horay-solar-hs635tc-mhd-d) | 635 | 22.7 | -0.280 | Monocrystalline |
| 10 | [HS635TC-MHG-D](https://comparepv.com/panel/horay-solar-hs635tc-mhg-d) | 635 | 22.4 | -0.280 | Monocrystalline |


## Summary

DMEGC is a Chinese solar module manufacturer backed by the broader DMEGC industrial group, with a scale and institutional track record that few mid-tier rivals can match. The company has held BloombergNEF Tier 1 status for six consecutive years and earned an 'A' rating in the PV ModuleTech Bankability Report, reflecting strong financial health and reliable supply chain performance. Annual module production capacity stands at approximately 21 GW, with cumulative global shipments exceeding 50 GW, placing DMEGC firmly among the top ten module suppliers worldwide. Horay Solar, founded in 2010 and headquartered in Wuxi, Jiangsu Province, is a considerably smaller player with an annual production capacity of around 2.5 GW. It achieved BloombergNEF Tier 1 status in early 2025 and operates manufacturing in both China and Malaysia, with regional offices in Germany, the United States, and Kenya. On the dimension of sustained institutional credibility and supply security, DMEGC holds a clear and measurable lead.

DMEGC's product strategy is currently centered on N-type TOPCon, covering a wide range of applications - from lightweight bifacial modules for weight-constrained residential rooftops, to standard commercial formats, to high-power utility-scale panels such as the Infinity RT series, which reached 635 W output at 23.5% efficiency in 2025. Horay Solar takes a broader technology approach, offering TOPCon, HJT, and back-contact (BC) modules alongside legacy PERC products, and holds certifications from TUV, IEC, CE, INMETRO, and CQC. The company actively targets residential, commercial and industrial, and utility-scale segments across Europe, the Americas, and Africa, with the German office serving as a European logistics and support hub.

For buyers where project finance, long-term warranty security, and volume reliability are the primary concerns, DMEGC is the stronger default. Horay Solar is a credible option for procurement teams seeking technology diversity - particularly HJT or BC cells - or for smaller-volume sourcing where its regional support network adds practical value. The two brands are not interchangeable at scale: DMEGC's combination of sustained Tier 1 status, top-tier bankability ratings, and production capacity at 21 GW per year gives it a structural advantage that Horay Solar, at its current size, has not yet replicated.

Written by claude-sonnet from the figures above.


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Source: https://comparepv.com/dmegc-vs-horay-solar

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