Horay Solar vs Sunova - solar panel manufacturer comparison

Sunova Solar is a Chinese manufacturer headquartered in Wuxi, Jiangsu, founded in 2016, with additional operational hubs in Germany and Brazil. It has been consistently listed as a BloombergNEF Tier 1 module manufacturer, including a full-year Q3 2023 listing based on multiple non-recourse project financings. Reported production figures vary by source, with module capacity cited between roughly 2 GW and 5.5 GW operational plus several GW under construction, alongside a 9 GW TOPCon cell line in Yibin, Sichuan, and cumulative shipments exceeding 7-10 GW worldwide by 2024. Horay Solar, also based in Wuxi, Jiangsu, traces its roots to 2010 as the successor to My Solar, and has likewise earned BNEF Tier 1 status, most recently confirmed on the Q1 2025 list. Its annual manufacturing capacity is smaller, around 2.5 GW, run out of automated lines in Wuxi. Both brands carry credible institutional bankability, but Sunova appears to have scaled further in recent years, with a larger and more geographically diversified manufacturing and cell-production footprint.

Product-wise, Sunova's portfolio spans rooftop residential and small commercial installations as well as commercial, industrial and ground-mounted systems, positioning it as a broad-line supplier rather than a single-niche brand. Horay Solar concentrates more tightly on high-power N-type TOPCon modules built on 182 mm and 210 mm cells, offered in monofacial and bifacial glass-glass formats with outputs up to roughly 630 W, and markets these as well suited to both residential and commercial rooftops; it also lists HJT and BC technology within its broader catalog, though TOPCon is its current focus. Horay backs its modules with a 15-year product warranty and a 25-year linear performance guarantee retaining at least 84.8 percent of nominal output, a fairly standard tier-1 warranty structure.

For a typical buyer in 2025, the two brands are broadly comparable in bankability, since both hold current BNEF Tier 1 status, so the choice often comes down to project type and local distributor support rather than brand tier. Sunova's larger and more diversified production base may offer an edge for buyers prioritizing supply-chain scale or wider product breadth across residential, commercial and utility segments, while Horay's tighter TOPCon focus and stated logistics network, including a California distribution center, could appeal to buyers seeking specialized high-efficiency modules with faster US delivery. Neither brand is clearly superior across the board, and due diligence on the specific project's financing requirements and available local support remains advisable.

Generated by Claude Sonnet 5 · 2026-08-19