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

# EGing PV vs Horay Solar

Horay Solar has the broader catalog (182 vs 131 models). Horay Solar leads on peak efficiency at 23.30%. Horay Solar leans bifacial (67% of lineup).


## The two companies


| Attribute | EGing PV | Horay Solar |
| --- | --- | --- |
| Country | China | China |
| Headquarters | Changzhou | Wuxi, Jiangsu Province |
| Founded | 2003 | 2010 |
| Employees |  | 400 |
| Annual capacity |  | 2.5 GW/year |
| Tier 1 | yes | yes |
| Listed | SZSE: 600537 |  |
| Website | [https://www.egingpv.com](https://www.egingpv.com) | [http://www.horaysolar.com](http://www.horaysolar.com) |

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 | EGing PV | Horay Solar | Margin |
| --- | --- | --- | --- |
| Panel Models | 131 | 182 | +51 |
| Max Power | 685 W | 720 W | +35 W |
| Avg Power | 504 W | 536 W | +32 W |


## Efficiency


| Measure | EGing PV | Horay Solar | Margin |
| --- | --- | --- | --- |
| Max Efficiency | 22.45% | 23.30% | +0.85 pp |
| Avg Efficiency | 20.90% | 22.46% | +1.56 pp |


## Reliability & Warranty


| Measure | EGing PV | Horay Solar | Margin |
| --- | --- | --- | --- |
| Avg Temp Coefficient | -0.336%/°C | -0.280%/°C | +0.056 |
| Bifacial Share | 51 (39%) | 122 (67%) | +28 pp |
| Avg Warranty | 26.9 yrs | 30.0 yrs | +3.1 yr |


## Efficiency distribution

Horay Solar skews to higher efficiency: 14% of lineup is 23%+


| Efficiency band | EGing PV | Horay Solar |
| --- | --- | --- |
| \<20% | 13 (9.9%) | 0 |
| 20-21% | 58 (44.3%) | 0 |
| 21-22% | 51 (38.9%) | 24 (13.2%) |
| 22-23% | 9 (6.9%) | 133 (73.1%) |
| 23%+ | 0 | 25 (13.7%) |


## Power distribution

EGing PV offers more 600W+ panels (22% of lineup)


| Power band | EGing PV | Horay Solar |
| --- | --- | --- |
| \<400W | 25 (19.1%) | 0 |
| 400-499W | 40 (30.5%) | 55 (30.2%) |
| 500-599W | 37 (28.2%) | 91 (50.0%) |
| 600-699W | 29 (22.1%) | 33 (18.1%) |
| 700W+ | 0 | 3 (1.6%) |


## Cell technology

Dominant cell tech: **PERC** (76%)

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


| Technology | EGing PV | Horay Solar |
| --- | --- | --- |
| PERC | 100 (76.3%) | 0 |
| TOPCon | 31 (23.7%) | 102 (56.0%) |
| N-type | 0 | 80 (44.0%) |


## Top panels, EGing PV


| # | Model | Power | Efficiency | Temp. coefficient | Technology |
| --- | --- | --- | --- | --- | --- |
| 1 | [EG-685NT66-HU/BF-DG](https://comparepv.com/panel/eging-pv-eg-685nt66-hu-bf-dg) | 685 | 22.1 | -0.300 | Monocrystalline |
| 2 | [EG-680NT66-HU/BF-DG](https://comparepv.com/panel/eging-pv-eg-680nt66-hu-bf-dg) | 680 | 21.9 | -0.300 | Monocrystalline |
| 3 | [EG-675NT66-HU/BF-DG](https://comparepv.com/panel/eging-pv-eg-675nt66-hu-bf-dg) | 675 | 21.7 | -0.300 | Monocrystalline |
| 4 | [EG-670NT66-HU/BF-DG](https://comparepv.com/panel/eging-pv-eg-670nt66-hu-bf-dg) | 670 | 21.6 | -0.300 | Monocrystalline |
| 5 | [EG-670M66-HU/BF-DG](https://comparepv.com/panel/eging-pv-eg-670m66-hu-bf-dg) | 670 | 21.6 | -0.340 | Monocrystalline |
| 6 | [EG-670M66-HUV](https://comparepv.com/panel/eging-pv-eg-670m66-huv) | 670 | 21.6 | -0.340 | Monocrystalline |
| 7 | [EG-665NT66-HU/BF-DG](https://comparepv.com/panel/eging-pv-eg-665nt66-hu-bf-dg) | 665 | 21.4 | -0.300 | Monocrystalline |
| 8 | [EG-665M66-HU/BF-DG](https://comparepv.com/panel/eging-pv-eg-665m66-hu-bf-dg) | 665 | 21.4 | -0.340 | Monocrystalline |
| 9 | [EG-665M66-HUV](https://comparepv.com/panel/eging-pv-eg-665m66-huv) | 665 | 21.4 | -0.340 | Monocrystalline |
| 10 | [EG-660NT66-HU/BF-DG](https://comparepv.com/panel/eging-pv-eg-660nt66-hu-bf-dg) | 660 | 21.2 | -0.300 | 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

EGing PV is a Chinese manufacturer founded in 2003 in Changzhou, Jiangsu Province, and holds the distinction of being the first pure solar module company listed on the Shanghai Stock Exchange (SHA: 600537). Operating as a fully vertically integrated producer - spanning silicon ingots, solar cells, and finished modules - EGing reports annual production capacity of approximately 5 GW at its single Changzhou facility. The company has achieved BloombergNEF Tier 1 bankability status, placing it among the brands recognized by global project finance institutions. Horay Solar was formally established in 2020 in Wuxi, Jiangsu Province, building on a predecessor business active since 2010, and operates at a smaller scale of roughly 2.5 GW of annual module capacity. It attained BloombergNEF Tier 1 recognition in Q1 2025 and retained it through Q1 2026. On institutional footprint and manufacturing scale, EGing PV holds a clear advantage.

EGing PV's product range addresses residential rooftops, commercial and industrial applications, and utility-scale ground-mount projects, supported by its in-house cell and ingot production. Horay Solar targets similar deployment segments and its catalog is confirmed to include TOPCon and HJT technology modules alongside legacy PERC variants, in both standard and bifacial configurations using 182 mm and 210 mm cell formats. The company markets its modules under named lines such as Solar Galaxy and Solar Ocean, suggesting deliberate segmentation between premium and volume tiers. Both manufacturers hold certifications from internationally recognized testing bodies including TÜV and IEC, and both export actively to European markets.

For a typical international buyer, EGing PV is the more conservative default given its two-decade operating history, larger production base, and an independent performance testing record that is more extensively documented in public sources. Horay Solar is a credible option - particularly for buyers specifically seeking confirmed TOPCon or HJT technology at competitive price points - but its shorter corporate history and smaller scale introduce a modestly higher counterparty risk. If both brands are available at comparable prices with equivalent warranty terms, EGing PV's deeper institutional track record tips the balance in its favor.

Written by claude-sonnet from the figures above.


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- [AIKO vs Horay Solar](https://comparepv.com/aiko-vs-horay-solar)
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- [ARTsolar vs Horay Solar](https://comparepv.com/artsolar-vs-horay-solar)


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Source: https://comparepv.com/eging-pv-vs-horay-solar

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