Hyundai vs Waaree - solar panel manufacturer comparison
Waaree has the broader catalog (222 vs 65 models). Waaree leads on peak efficiency at 23.51%. Hyundai leans bifacial (66% 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
Waaree Energies Ltd. is a leading global energy transition company committed to delivering innovative, high-quality solar and sustainable energy solutions. Established in 1990 and headquartered in Mumbai, India, the company operates across 20+ countries with an integrated portfolio that spans solar modules, EPC...
- Founded
- 1990
- Headquarters
- Mumbai, India
- Annual capacity
- 13.3 GW/year
- Employees
- 8500+
- Listed
- NSE: WAAREEENER
- 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%+
Waaree offers more 600W+ panels (12% of lineup)
Dominant cell tech: <strong>HJT</strong> (38%)
Dominant cell tech: <strong>PERC</strong> (48%)
The flagships
Written summary
Hyundai Energy Solutions (operating under the HD Hyundai Group banner) is a South Korean manufacturer with roots in the broader Hyundai conglomerate, producing solar modules since the 2000s from facilities in South Korea. The company holds Bloomberg NEF Tier 1 bankability status and runs over 1.4 GW of annual production capacity across dedicated cell and module factories. Waaree Energies, founded in India in 1989 and entering solar manufacturing around 2007-2009, has grown into India's largest solar module producer, with a global manufacturing footprint of approximately 15 GW - including a 3.2 GW facility in Brookshire, Texas - and holds BloombergNEF Tier 1 status for 35 consecutive quarters. Waaree also became the first Indian solar PV module maker to earn PV Tech's 'A' category ModuleTech Bankability Rating, announced in early 2025. In terms of sheer manufacturing scale and institutional recognition, Waaree currently commands a significantly larger industrial footprint.
Both brands have converged on N-type TOPCon cell technology as their primary offering. Hyundai Energy Solutions targets residential and light commercial rooftop installations, with panels in the 410-440 W range and efficiencies around 22-22.5%, competing at a mid-to-premium price point. Waaree's catalog spans a broader range - from sub-200 W modules to high-output 700 W+ utility-scale panels - making it relevant across residential rooftops, commercial carports, and large ground-mount projects alike. Waaree's residential-focused modules reach up to roughly 22.8% efficiency, while its utility-facing lineup emphasizes high wattage and bifacial configurations suitable for large project developers.
For most buyers in 2025, the right choice depends heavily on geography and project scale. Waaree is the stronger default for utility and large commercial developers, particularly in India and increasingly in the US market, given its certified manufacturing presence, scale advantages, and 30-year performance warranty. Hyundai Energy Solutions remains a credible, well-warranted choice for residential installers seeking a bankable Korean brand with a proven quality track record - especially in markets where Korean provenance is valued. Neither brand is interchangeable with the other in practice: Waaree wins on scale and breadth, while Hyundai competes on brand heritage and residential focus.
Generated by Claude Sonnet · 2026-06-08
Other brand comparisons
Shop prices: See 42 Hyundai offers · See 26 Waaree offers
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.