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

# Horay Solar vs Q-Cells

Horay Solar has the broader catalog (182 vs 89 models). Horay Solar leads on peak efficiency at 23.30%. Horay Solar leans bifacial (67% of lineup).


## The two companies


| Attribute | Horay Solar | Q-Cells |
| --- | --- | --- |
| Country | China | South Korea |
| Headquarters | Wuxi, Jiangsu Province | Seoul |
| Founded | 2010 | 1999 |
| Employees | 400 | 2000+ |
| Annual capacity | 2.5 GW/year | 11.2 GW/year |
| Tier 1 | yes | yes |
| Listed |  | NASDAQ: HQCL |
| Website | [http://www.horaysolar.com](http://www.horaysolar.com) | [https://www.qcells.com](https://www.qcells.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...

Qcells is a renowned global provider of complete energy solutions, specializing in solar cells and modules, energy storage solutions, downstream project business, and energy retail. The company has a strong heritage dating back to its foundation in Germany and has become a leader in technology innovations. As an...


## Catalog & Power


| Measure | Horay Solar | Q-Cells | Margin |
| --- | --- | --- | --- |
| Panel Models | 182 | 89 | +93 |
| Max Power | 720 W | 675 W | +45 W |
| Avg Power | 536 W | 468 W | +68 W |


## Efficiency


| Measure | Horay Solar | Q-Cells | Margin |
| --- | --- | --- | --- |
| Max Efficiency | 23.30% | 23.20% | +0.10 pp |
| Avg Efficiency | 22.46% | 21.21% | +1.25 pp |


## Reliability & Warranty


| Measure | Horay Solar | Q-Cells | Margin |
| --- | --- | --- | --- |
| Avg Temp Coefficient | -0.280%/°C | -0.325%/°C | +0.045 |
| Bifacial Share | 122 (67%) | 35 (39%) | +28 pp |
| Avg Warranty | 30.0 yrs | 27.0 yrs | +3.0 yr |


## Efficiency distribution

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


| Efficiency band | Horay Solar | Q-Cells |
| --- | --- | --- |
| 21-22% | 24 (13.2%) | 30 (33.7%) |
| 22-23% | 133 (73.1%) | 21 (23.6%) |
| 23%+ | 25 (13.7%) | 2 (2.2%) |
| \<20% | 0 | 7 (7.9%) |
| 20-21% | 0 | 29 (32.6%) |


## Power distribution

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


| Power band | Horay Solar | Q-Cells |
| --- | --- | --- |
| 400-499W | 55 (30.2%) | 41 (46.1%) |
| 500-599W | 91 (50.0%) | 11 (12.4%) |
| 600-699W | 33 (18.1%) | 17 (19.1%) |
| 700W+ | 3 (1.6%) | 0 |
| \<400W | 0 | 20 (22.5%) |


## Cell technology

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

Dominant cell tech: **PERC** (43%)


| Technology | Horay Solar | Q-Cells |
| --- | --- | --- |
| TOPCon | 102 (56.0%) | 8 (9.0%) |
| N-type | 80 (44.0%) | 23 (25.8%) |
| PERC | 0 | 38 (42.7%) |
| Unknown | 0 | 20 (22.5%) |


## 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 |


## Top panels, Q-Cells


| # | Model | Power | Efficiency | Temp. coefficient | Technology |
| --- | --- | --- | --- | --- | --- |
| 1 | [Q.PEAK DUO ML-G12S.3 / BFG 675](https://comparepv.com/panel/q-cells-q-peak-duo-ml-g12s-3-bfg-675) | 675 | 21.7 | -0.340 | Monocrystalline |
| 2 | [Q.PEAK DUO ML-G12S.3 / BFG 670](https://comparepv.com/panel/q-cells-q-peak-duo-ml-g12s-3-bfg-670) | 670 | 21.6 | -0.340 | Monocrystalline |
| 3 | [Q.PEAK DUO ML-G12S.3 / BFG 665](https://comparepv.com/panel/q-cells-q-peak-duo-ml-g12s-3-bfg-665) | 665 | 21.4 | -0.340 | Monocrystalline |
| 4 | [Q.PEAK DUO ML-G12S.3 / BFG 660](https://comparepv.com/panel/q-cells-q-peak-duo-ml-g12s-3-bfg-660) | 660 | 21.2 | -0.340 | Monocrystalline |
| 5 | [Q.PEAK DUO ML-G12S.3 / BFG 655](https://comparepv.com/panel/q-cells-q-peak-duo-ml-g12s-3-bfg-655) | 655 | 21.1 | -0.340 | Monocrystalline |
| 6 | [Q.PEAK DUO ML-G12S.3 / BFG 650](https://comparepv.com/panel/q-cells-q-peak-duo-ml-g12s-3-bfg-650) | 650 | 20.9 | -0.340 | Monocrystalline |
| 7 | [Q.TRON XL-G2.3 / BFG 645](https://comparepv.com/panel/q-cells-q-tron-xl-g2-3-bfg-645) | 645 | 23.1 | -0.290 | Monocrystalline |
| 8 | [Q.TRON XL-G2.3 / BFG 640](https://comparepv.com/panel/q-cells-q-tron-xl-g2-3-bfg-640) | 640 | 22.9 | -0.290 | Monocrystalline |
| 9 | [Q.TRON XL-G2.3 / BFG 635](https://comparepv.com/panel/hanwha-q-cells-america-inc-q-tron-xl-g2-3-bfg-635) | 635 | 22.7 | -0.300 | Monocrystalline |
| 10 | [Q.TRON XL-G2.3 / BFG 630](https://comparepv.com/panel/hanwha-q-cells-america-inc-q-tron-xl-g2-3-bfg-630) | 630 | 22.6 | -0.300 | Monocrystalline |


## Summary

Horay Solar is a Chinese manufacturer founded in 2010 and headquartered in Wuxi, Jiangsu Province. The company has built an annual module production capacity of around 2.5 GW and entered the BloombergNEF Tier 1 list in Q1 2025, marking its formal recognition as a bankable supplier by global financial institutions. Q-Cells, operating today as Hanwha Q CELLS, has a considerably longer history: it was founded in 1999 in Bitterfeld-Wolfen, Germany, acquired by South Korea's Hanwha Group in 2012, and now operates with dual headquarters in Seoul and Thalheim. Its global module production capacity reached approximately 12.4 GW by late 2024, including 8.4 GW of US-based manufacturing in Dalton, Georgia - the largest solar manufacturing facility in the Western Hemisphere. Q-Cells has held BNEF Tier 1 status for many years and ranked third on SolarReviews' list of top manufacturers for 2025, giving it the substantially stronger institutional footprint of the two.

Both manufacturers have converged on N-type TOPCon as their primary cell technology. Horay Solar's portfolio covers residential rooftops, commercial systems, and light utility projects, and the company markets its modules across Europe, North America, Southeast Asia, and Latin America. Q-Cells centers its premium offer around the Q.ANTUM NEO platform, which achieves module efficiencies up to 22.5-22.6% and an annual degradation rate of 0.33%, backed by 25-year product warranties. Q-Cells addresses the full demand spectrum from residential rooftops to commercial ground-mounts, with its US-made Q.TRON line carrying domestic-content advantages under the Inflation Reduction Act.

For most buyers in 2025, Q-Cells is the lower-risk default: its deep warranty track record, extensive third-party testing, and domestic US supply chain offer measurable advantages in project financing and long-term performance assurance. Horay Solar is a credible option for cost-sensitive projects where a freshly Tier-1-listed supplier is acceptable, but buyers should weigh its shorter bankability history against Q-Cells' established position.

\---LINKS---

\- https://www.solarreviews.com/blog/hanwha-q-cells-solar-panels-complete-review \| Expert Review of Qcells Solar Panels for 2025 - SolarReviews \| review

\- https://www.ecowatch.com/solar/reviews/qcells-solar-panels \| QCells Solar Panels Review 2025 - Cost, Efficiency and Performance \| review

\- https://www.horaysolar.com/News/207.html \| Horay Solar achieves BNEF Tier 1 list - official announcement \| article

\- https://www.horaysolar.com/News/230.html \| Horay Solar recognised as BloombergNEF Tier 1 manufacturer 2025 \| article

\- https://solampio.com/blog-cleantech-info/why-hanwha-q-cells-qantum-neo-is-a-game-changer/ \| Why Hanwha Q CELLS Q.ANTUM NEO is a game changer \| article

Written by claude-sonnet from the figures above.


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- [Horay Solar vs A.B. Energy](https://comparepv.com/horay-solar-vs-a-b-energy)
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- [AIKO vs Q-Cells](https://comparepv.com/aiko-vs-q-cells)
- [Horay Solar vs AKCOME](https://comparepv.com/horay-solar-vs-akcome)
- [ARTsolar vs Q-Cells](https://comparepv.com/artsolar-vs-q-cells)


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Source: https://comparepv.com/horay-solar-vs-q-cells

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