Hyundai vs S-Energy - solar panel manufacturer comparison
S-Energy has the broader catalog (91 vs 65 models). Hyundai leads on peak efficiency at 23.40%. S-Energy leans bifacial (77% of lineup).
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
HD Hyundai Energy Solutions is a global provider of solar cells and modules, offering solutions for residential, commercial, and utility-scale projects. They provide monofacial, bifacial, and shingled PV modules, along with inverters and various PV solutions. The company is committed to developing next-generation...
- Founded
- 2004
- Headquarters
- Seongnam-si, South Korea
- Annual capacity
- 1.35 GW/year
- Employees
- 206
- 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
Hyundai skews to higher efficiency: 6% of lineup is 23%+
S-Energy offers more 600W+ panels (12% of lineup)
Dominant cell tech: <strong>HJT</strong> (38%)
Dominant cell tech: <strong>PERC</strong> (59%)
The flagships
Written summary
Hyundai Energy Solutions - operating today under the HD Hyundai Energy Solutions brand following a 2023 renaming - is a South Korean manufacturer founded in 2004 and headquartered in Seongnam-si. The company grew out of the broader HD Hyundai industrial group and has built a track record of nearly two decades in photovoltaics. S-Energy is also South Korean, tracing its origins to Samsung Electronics' photovoltaic division when it was spun off in 2001 and based in Gyeonggi-do. Both companies have held BNEF Tier 1 recognition, confirming baseline bankability with project lenders. S-Energy's annual manufacturing output is approximately 500 MW, a modest scale by current standards; Hyundai's exact annual capacity was not confirmed in available sources, though its broader corporate infrastructure and ongoing technology investment give it a meaningfully stronger institutional footprint overall.
In terms of product positioning, HD Hyundai Energy Solutions targets residential rooftop and small-to-medium commercial segments with panel families including the XG Series for standard rooftop use and the bifacial YH Series suited to ground-mount applications. Critically, as of April 2025 the company began mass production of N-Type TOPCon cells exceeding 24% cell efficiency, signaling a clear technology transition away from its prior PERC lineup. S-Energy competes primarily on price, offering panels at a noticeably lower cost per watt than premium brands across a wide efficiency range. However, independent reviewers have flagged an annual degradation rate of roughly 0.7%, which is higher than the 0.4% or better that leading manufacturers now warrant, and the company has reported operating losses continuously since 2017.
For a typical buyer in 2025, HD Hyundai Energy Solutions is the more defensible choice. Its TOPCon transition, competitive mid-market pricing, and stable corporate backing reduce technology and warranty-longevity risk. S-Energy can still make sense for cost-sensitive projects with generous roof space, but its financial fragility is a legitimate concern when evaluating 25-year warranty obligations.
Generated by Claude Sonnet · 2026-06-22
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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.