Horay Solar vs Tongwei - solar panel manufacturer comparison
Horay Solar has the broader catalog (182 vs 122 models). Tongwei leads on peak efficiency at 24.20%.
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
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...
- Founded
- 2010
- Headquarters
- Wuxi, Jiangsu Province, China
- Annual capacity
- 2.5 GW/year
- Employees
- 400
- Tier 1 bankable
- Yes
- Founded
- 2013
- Headquarters
- Chengdu, China
- Listed
- SSE: 600438
- 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
Tongwei skews to higher efficiency: 41% of lineup is 23%+
Tongwei offers more 600W+ panels (53% of lineup)
Dominant cell tech: TOPCon (56%)
Dominant cell tech: TOPCon (47%)
The flagships
Written summary
Horay Solar is a Chinese photovoltaic module manufacturer headquartered in Wuxi, founded in 2010. The company operates automated production lines with an annual manufacturing capacity of approximately 2.5 GW and achieved placement on the Bloomberg New Energy Finance Tier 1 list for the first time in Q1 2025, a significant milestone that signals acceptance by project finance institutions. Tongwei is a far larger enterprise - a vertically integrated Chinese conglomerate and the only company in the global PV sector to appear on the Fortune Global 500 list for two consecutive years. Its module brand, TW Solar, has maintained BNEF Tier 1 status across multiple consecutive quarters, including Q3 2025. Tongwei's manufacturing footprint exceeds 90 GW of annual module capacity and over 150 GW of cell capacity, supported by its own upstream polysilicon production. In terms of institutional scale and established bankability, Tongwei holds a commanding lead over Horay Solar.
Horay Solar's product range centers on N-type TOPCon and mono PERC modules in 182 mm and 210 mm cell formats, available in both standard and bifacial configurations, certified by TÜV, IEC, CE, and CQC. The lineup is well suited to residential rooftop and commercial-and-industrial applications where a competitively priced Tier 1 module is the primary criterion. Tongwei's TW Solar portfolio spans PERC, N-type TOPCon, and heterojunction HJT technologies, covering use cases from residential rooftops to large utility-scale ground-mount projects. Independent reviewers report an average module efficiency of around 22.6%, and selected TW Solar models have received Top Performer recognition in PVEL scorecards. Dual-glass modules carry warranties of up to 30 years with annual degradation capped at 0.4% after year one, which is among the stronger warranty terms in the mid-to-premium segment.
For most buyers - whether an installer sourcing panels for residential projects or a developer procuring for a C&I or utility portfolio - Tongwei (TW Solar) is the stronger default choice, given its longer track record on Tier 1 lists, broader technology range, and more established global supply chain. Horay Solar is a credible option for cost-sensitive projects that still require bankable Tier 1 credentials, though buyers should note that its Tier 1 status is recent. Where local distributor support is comparable and pricing is similar, the two brands may be effectively interchangeable for straightforward residential or small commercial deployments.
Generated by Claude Sonnet · 2026-07-08
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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.