Horay Solar vs Yingli - solar panel manufacturer comparison
Yingli has the broader catalog (196 vs 182 models). Yingli leads on peak efficiency at 24.10%.
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
Yingli Solar, also known as Yingli Green Energy, is a leading solar energy company and one of the world's largest vertically integrated PV manufacturers. The company develops, manufactures, and sells PV modules to a wide range of markets. Yingli's mission is to provide affordable green energy for all.
- Founded
- 1998
- Headquarters
- Baoding, Hebei, China
- Annual capacity
- 2.45 GW/year
- Employees
- 9000+
- Listed
- OTC Pink: YGEHY
- 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
Yingli skews to higher efficiency: 21% of lineup is 23%+
Yingli offers more 600W+ panels (37% of lineup)
Dominant cell tech: <strong>TOPCon</strong> (56%)
Dominant cell tech: <strong>PERC</strong> (32%)
The flagships
Written summary
Horay Solar is a Chinese photovoltaic manufacturer headquartered in Wuxi, Jiangsu Province, tracing its roots to a predecessor business founded in 2010 and formally rebranded as HoRay Solar in 2020. The company reports an annual production capacity of approximately 2.5 GW and officially entered the BloombergNEF Tier 1 manufacturer list in Q1 2025. It additionally operates a module assembly facility in Malaysia serving the North American market. Yingli Solar is a considerably older and once much larger Chinese producer, founded in 1998 in Baoding, Hebei Province. At its peak it was the world's single largest solar panel manufacturer and the first Chinese company to sponsor the FIFA World Cup, before entering severe financial distress between roughly 2015 and 2020. Having restructured, Yingli regained Bloomberg Tier 1 bankability status and has built reported module capacity of around 7.2 GW. Of the two, Yingli carries the stronger institutional footprint by a clear margin.
Horay Solar's catalog covers residential, commercial, and utility segments. The Solar Ocean series offers bifacial modules in roughly the 420 W-590 W range, while the Solar Galaxy line targets large commercial and ground-mount applications at over 700 W, with both PERC and N-type cell variants available. Yingli's flagship offering is the Panda 3.0 Pro, a full N-type TOPCon line achieving efficiency of around 22.4 percent and outputs ranging from 590 W to over 625 W depending on configuration. The Panda 3.0 Pro ranked 27th in TaiyangNews' TOP SOLAR MODULES listing for August 2025 and features a favorable temperature coefficient that benefits warm-climate installations. Both brands address the main market segments, but Yingli's TOPCon portfolio carries substantially more third-party coverage and independent test documentation.
For buyers prioritizing long-term bankability and lender confidence - particularly on commercial or utility-scale projects - Yingli's restored Tier 1 status and better-documented product line make it the stronger default. Horay Solar is a credible mid-tier alternative for cost-sensitive residential or small C&I installations where the shorter corporate track record is an acceptable trade-off. The two brands are not interchangeable at enterprise scale; at the residential level the practical difference narrows considerably.
Generated by Claude Sonnet · 2026-05-19
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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.