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

# Horay Solar vs Yingli

Yingli has the broader catalog (196 vs 182 models). Yingli leads on peak efficiency at 24.10%.


## The two companies


| Attribute | Horay Solar | Yingli |
| --- | --- | --- |
| Country | China | China |
| Headquarters | Wuxi, Jiangsu Province | Baoding, Hebei |
| Founded | 2010 | 1998 |
| Employees | 400 | 9000+ |
| Annual capacity | 2.5 GW/year | 2.45 GW/year |
| Tier 1 | yes | yes |
| Listed |  | OTC Pink: YGEHY |
| Website | [http://www.horaysolar.com](http://www.horaysolar.com) | [http://www.yinglisolar.com](http://www.yinglisolar.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...

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.


## Catalog & Power


| Measure | Horay Solar | Yingli | Margin |
| --- | --- | --- | --- |
| Panel Models | 182 | 196 | +14 |
| Max Power | 720 W | 735 W | +15 W |
| Avg Power | 536 W | 524 W | +12 W |


## Efficiency


| Measure | Horay Solar | Yingli | Margin |
| --- | --- | --- | --- |
| Max Efficiency | 23.30% | 24.10% | +0.80 pp |
| Avg Efficiency | 22.46% | 21.28% | +1.18 pp |


## Reliability & Warranty


| Measure | Horay Solar | Yingli | Margin |
| --- | --- | --- | --- |
| Avg Temp Coefficient | -0.280%/°C | -0.330%/°C | +0.050 |
| Bifacial Share | 122 (67%) | 112 (57%) | +10 pp |
| Avg Warranty | 30.0 yrs | 27.9 yrs | +2.1 yr |


## Efficiency distribution

Yingli skews to higher efficiency: 21% of lineup is 23%+


| Efficiency band | Horay Solar | Yingli |
| --- | --- | --- |
| 21-22% | 24 (13.2%) | 42 (21.4%) |
| 22-23% | 133 (73.1%) | 44 (22.4%) |
| 23%+ | 25 (13.7%) | 41 (20.9%) |
| \<20% | 0 | 30 (15.3%) |
| 20-21% | 0 | 39 (19.9%) |


## Power distribution

Yingli offers more 600W+ panels (37% of lineup)


| Power band | Horay Solar | Yingli |
| --- | --- | --- |
| 400-499W | 55 (30.2%) | 52 (26.5%) |
| 500-599W | 91 (50.0%) | 39 (19.9%) |
| 600-699W | 33 (18.1%) | 62 (31.6%) |
| 700W+ | 3 (1.6%) | 11 (5.6%) |
| \<400W | 0 | 32 (16.3%) |


## Cell technology

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

Dominant cell tech: **PERC** (32%)


| Technology | Horay Solar | Yingli |
| --- | --- | --- |
| TOPCon | 102 (56.0%) | 54 (27.6%) |
| N-type | 80 (44.0%) | 59 (30.1%) |
| PERC | 0 | 63 (32.1%) |
| Unknown | 0 | 20 (10.2%) |


## 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, Yingli


| # | Model | Power | Efficiency | Temp. coefficient | Technology |
| --- | --- | --- | --- | --- | --- |
| 1 | [YL735CF66 f/2](https://comparepv.com/panel/yingli-yl735cf66-f-2) | 735 | 23.7 | -0.290 | Monocrystalline |
| 2 | [YL730CF66 f/2](https://comparepv.com/panel/yingli-yl730cf66-f-2) | 730 | 23.5 | -0.290 | Monocrystalline |
| 3 | [YL725CF66 f/2](https://comparepv.com/panel/yingli-yl725cf66-f-2) | 725 | 23.3 | -0.290 | Monocrystalline |
| 4 | [YL720CF66 f/2](https://comparepv.com/panel/yingli-yl720cf66-f-2) | 720 | 23.2 | -0.290 | Monocrystalline |
| 5 | [LF720M12N-66H/BF](https://comparepv.com/panel/yingli-lf720m12n-66h-bf) | 720 | 23.2 | -0.290 | Monocrystalline |
| 6 | [YL715CF66 f/2](https://comparepv.com/panel/yingli-yl715cf66-f-2) | 715 | 23.0 | -0.290 | Monocrystalline |
| 7 | [LF715M12N-66H/BF](https://comparepv.com/panel/yingli-lf715m12n-66h-bf) | 715 | 23.0 | -0.290 | Monocrystalline |
| 8 | [YL710CF66 f/2](https://comparepv.com/panel/yingli-yl710cf66-f-2) | 710 | 22.9 | -0.290 | Monocrystalline |
| 9 | [LF710M12N-66H/BF](https://comparepv.com/panel/yingli-lf710m12n-66h-bf) | 710 | 22.9 | -0.290 | Monocrystalline |
| 10 | [LF705M12N-66H/BF](https://comparepv.com/panel/yingli-lf705m12n-66h-bf) | 705 | 22.7 | -0.290 | Monocrystalline |


## 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 420W-590W range, while the Solar Galaxy line targets large commercial and ground-mount applications at over 700W, 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 590W to over 625W 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.

Written by claude-sonnet from the figures above.


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Source: https://comparepv.com/horay-solar-vs-yingli

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