--- title: "Horay Solar HS535TC-MHO-D Solar Panel: Specs & Datasheet | ComparePV" description: "Horay Solar HS535TC-MHO-D solar panel. Specs: 22.50% efficiency, Monocrystalline cells, dimensions, warranty and temperature coefficient." source: "https://comparepv.com/panel/horay-solar-hs535tc-mho-d" image: "https://comparepv.com/og/panel/horay-solar-hs535tc-mho-d.png" updated: 2026-09-11 --- # Horay Solar HS535TC-MHO-D Strong in heat, heavy for its output 435 panels in the segment TOPCon 500-550 W ## Identity - **Manufacturer:** Horay Solar - **Model:** HS535TC-MHO-D - **Series:** HS 182-132 TC-D Ocean (N-type bifacial modules) - **Rated power:** 535 W - **Cell technology:** TOPCon - **Bifacial:** yes ## How it compares Compared against segment TOPCon 500-550 W (435 panels). | Measure | This panel | Segment median | Standing | Rank | | --- | --- | --- | --- | --- | | Power (Wp) | 535 W | 510 W | Strong - top 10% | | | Module efficiency | 22.50% | 22.74% | Typical | 4,281 | | Power density | 225.3 | 227.4 | Typical | 4,265 | | Temperature coefficient | -0.280 | -0.290 | Strong - top 10% | 1,347 | | Weight (kg) | 29.0 kg | 27.0 kg | Weak - bottom 21% | | | Performance warranty | 30 yrs | 30 yrs | Typical | 21 | ### Full peer table | Measure | This panel | Segment median | Standing | Rank | | --- | --- | --- | --- | --- | | Module efficiency | 22.50% | 22.74% | Typical | 4,281 | | Power density | 225.3 | 227.4 | Typical | 4,265 | | Temperature coefficient | -0.280 | -0.290 | Strong - top 10% | 1,347 | | Weight per kWp | 54.2 | 52.4 | Weak - bottom 21% | 8,510 | | Performance warranty | 30 yrs | 30 yrs | Typical | 21 | ### Strengths - **-0.280 %/°C temperature coefficient** - Top 10% of the TOPCon 500-550 W segment, against a median of -0.290. Ranked 1,347th in the whole database. ### Watch out for - **54.2 kg per kWp** - Bottom 21% of the TOPCon 500-550 W segment, against a median of 52.4. - **Best for:** Commercial and shaded-installations. - **Not ideal for:** Weight-limited structures. ## Specification ### Electrical - **Rated power (Pmax):** 535 W - **Efficiency:** 22.50 % - **Voltage at Pmax (Vmp):** 40.44 V - **Current at Pmax (Imp):** 13.23 A - **Open-circuit voltage (Voc):** 48.04 V - **Short-circuit current (Isc):** 14.29 A - **Max system voltage:** 1500 V ### Temperature - **Temperature coefficient of Pmax:** -0.280 %/degC - **Temperature coefficient of Voc:** -0.230 %/degC - **Temperature coefficient of Isc:** 0.040 %/degC - **NOCT:** 45 degC ### Cell and construction - **Cell type:** Monocrystalline - **Cell technology:** TOPCon - **Cell count:** 132 - **Bifacial:** yes - **Bifacial gain:** 10.00 ### Physical - **Length:** 2094 mm - **Width:** 1134 mm - **Thickness:** 30 mm - **Weight:** 29.0 kg - **Area:** 2.37 m2 - **Power density:** 225.3 Wp/m2 ### Warranty and degradation - **Product warranty:** 15 years - **Performance warranty:** 30 years ## Rank in the whole catalogue | Measure | Position | | --- | --- | | Efficiency | 4281 of 14129 | | Power density | 4265 of 14129 | | Temperature coefficient | 1347 of 14129 | | Weight | 8510 of 14129 | | Warranty | 21 of 14129 | ## Pros - **Module efficiency 21.9-22.7% above segment median** - At the same 540 Wp nominal power, peer comparables DMEGC GHxxxM10T-B66HST and Heliene 144HC M10 SL Bifacial reach only 20.9% efficiency. The Horay HS 182-132 TC-D requires approximately 8% less installation area for the same installed capacity - a meaningful advantage on space-constrained rooftops or ground-mount sites. - **N-type TOPCon - low degradation and no LID** - N-type cells are immune to Light-Induced Degradation (LID) and exhibit an annual degradation rate of ~0.40% vs. ~0.55-0.70% for legacy P-type PERC. Over a 30-year system lifetime this translates to several additional percentage points of retained power output compared to PERC equivalents in the same wattage class. - **Dual-glass construction - durability and reliability** - The rear glass replaces a polymer backsheet, reducing annual degradation to ~0.45% vs. ~0.70% for glass-backsheet configurations. It eliminates laminate delamination risk, PID (Potential-Induced Degradation), and moisture ingress - particularly valuable for utility-scale PV farms and commercial installations with a projected operational life exceeding 25 years. - **Bifacial + SMBB - higher energy yield** - Bifacial technology enables an additional 10-25% energy generation from reflected irradiance (albedo ~0.25-0.50 for white membranes or gravel). Super Multi Busbar (SMBB) shortens current collection paths, reduces resistive losses, and improves the module's tolerance to partial shading, directly boosting annual yield under real-world non-ideal conditions. - **BNEF Tier-1 Q1 2025 & Q1 2026 + 30-year power warranty** - Horay Solar is listed on the BloombergNEF Tier 1 PV Module Manufacturer ranking in both Q1 2025 and Q1 2026, confirming bankability and facilitating project financing and insurance for commercial installations. The 30-year linear power warranty meets the premium standard for N-type modules and underpins predictable LCOE throughout the full investment cycle. ## Cons - **Dual-glass weight ~28-32 kg** - The glass-glass construction is approximately 25-35% heavier than glass-backsheet equivalents (~21-22 kg for this power class). For rooftop installations this may require a structural load assessment and additional mounting hardware, raising BoS costs and potentially ruling the series out for lightweight roof coverings. - **Lower efficiency vs. BC-technology peers at 540 Wp** - Peer comparable Gokin GK-5-60HG (540 Wp) achieves 24.4% efficiency - approximately 1.7 percentage points above the 22.7% maximum of this series. For space-constrained industrial rooftops this means roughly 8% more Horay modules are needed to reach the same installed capacity as a back-contact solution. ## About this series The Horay Solar HS 182-132 TC-D Ocean series consists of double-sided N-type modules designed to maximize energy yield in environments where every kilowatt-hour counts, even under diffuse light and in challenging weather conditions. Thanks to **bifacial technology**, the panel can effectively utilize reflected light from the ground (e.g., a light roof, sand, or membrane), which significantly improves production compared to single-sided solutions. The use of **N-type cells** promotes lower degradation over time and more stable operation of the installation, which is particularly important for investors seeking predictable returns. This series also features a **glass-glass construction**, which increases resistance to environmental factors and reduces the risk of microcracks during transport and installation. The modules utilize **SMBB**, which supports better current collection and improves the panel's performance under partial shading. This makes it a good choice for PV farms, commercial installations, and rooftop projects that require high durability and reliability. ## Notable figures - Efficiency of 22.5% matches the \*\*TOPCon 500-550W\*\* median - Power density of 225.3 W/m² matches the \*\*TOPCon 500-550W\*\* median - Temperature coefficient of -0.28%/°C matches the \*\*TOPCon 500-550W\*\* median - At 29.0 kg (2.0 kg above \*\*TOPCon 500-550W\*\* median of 27.0 kg), requires checking roof load capacity - Bifacial design (80% factor) captures reflected light - adds 4-12% yield on ground-mount or white roof ## Questions ### What warranty comes with the Horay Solar HS 182-132 TC-D Ocean modules? The HS 182-132 TC-D Ocean series carries a 15-year product warranty covering manufacturing defects and structural integrity, plus a 30-year linear power warranty. Thanks to N-type TOPCon cell technology, annual power degradation after year one is typically around 0.4-0.5%, meaning the module should retain over 87% of its rated output after 30 years. This is among the longer warranty standards currently available on the market. ### What does bifacial design mean for the HS 182-132 TC-D Ocean and when does it actually pay off? A bifacial module harvests light from both the front and rear surfaces, potentially generating 10-25% more energy than a monofacial equivalent - provided the surface beneath reflects enough light. The biggest gains come from highly reflective substrates such as white TPO membranes, light-colored gravel, or concrete. Ground-mounted systems with an air gap and flat rooftops benefit most; dark-tile pitched roofs will see minimal bifacial gain. ### How does TOPCon technology in the HS 182-132 TC-D Ocean differ from older PERC cells? N-type TOPCon cells achieve higher efficiency (above 22%) compared to typical P-type PERC cells (around 20-21%) and are virtually free of LID (Light-Induced Degradation). This translates into more stable long-term output and lower overall power loss over the module's lifetime. The HS 182-132 TC-D Ocean uses TOPCon throughout the series, which supports its extended 30-year power warranty. ### Do the HS 182-132 TC-D Ocean modules perform well on overcast days and in diffuse light conditions? Yes. N-type TOPCon cells have a lower startup irradiance threshold and better low-light response than PERC cells. The SMBB (Smart Multi Busbar) design further reduces resistive losses and improves shading tolerance by shortening current paths within each cell. This is especially relevant in Central European climates where cloudy days are frequent and diffuse irradiance makes up a significant share of annual yield. ### Does the dual-glass construction of the HS 182-132 TC-D Ocean require a special racking or mounting system? Dual-glass modules are slightly heavier than standard glass-backsheet modules, so the mounting structure - aluminum rails, ballast blocks, or rooftop anchors - must be specified for the actual module weight listed in the datasheet. The glass-glass build itself improves resistance to moisture ingress, microcracks, and corrosion, making it a preferred choice for flat rooftops and agri-PV installations where long-term durability is critical. ### Is Horay Solar a reliable manufacturer and is the HS 182-132 TC-D Ocean series on the Tier 1 list? Horay Solar is listed on the BNEF Tier 1 Solar Module Manufacturers ranking, meaning the company meets bankability criteria - financial institutions accept its modules as collateral for project financing. Headquartered in China, the company offers a broad portfolio of bifacial and TOPCon products. Note that Tier 1 status reflects a manufacturer's financial stability and supply reliability, not a direct rating of technical quality. ## Datasheet [Manufacturer datasheet (PDF)](https://comparepv.com/datasheets/hs182-132tc-d-ocean-540w-5f68e133272f.pdf) ## Alternatives | Panel | Power | How it differs | | --- | --- | --- | | [Longi Solar LR7-54HJD-510M](https://comparepv.com/panel/longi-lr7-54hjd-510m) | 510 W | Cooler, lighter, +2.5 pp | | [AIKO AIKO-A495-MCE54Mw](https://comparepv.com/panel/aiko-aiko-a495-mce54mw) | 495 W | -40 W, lighter, +2.3 pp | | [Longi Solar LR7-60HVH-560M](https://comparepv.com/panel/longi-lr7-60hvh-560m) | 560 W | +25 W, lighter, +2.3 pp | | [Longi Solar LR7-54HJD-505M](https://comparepv.com/panel/longi-lr7-54hjd-505m) | 505 W | Cooler, lighter, +2.2 pp | | [WINAICO WST-505BKX54-A2](https://comparepv.com/panel/winaico-wst-505bkx54-a2) | 505 W | -30 W, lighter, +2.2 pp | | [Longi Solar LR7-60HVH-555M](https://comparepv.com/panel/longi-lr7-60hvh-555m) | 555 W | Cooler, lighter, +2.1 pp | | [AIKO AIKO-A490-MCE54Mw](https://comparepv.com/panel/aiko-aiko-a490-mce54mw) | 490 W | -45 W, lighter, +2.0 pp | | [Horay Solar HS520TC-MHO](https://comparepv.com/panel/horay-solar-hs520tc-mho) | 520 W | -15 W, lighter, -0.6 pp | | [Horay Solar HS525TC-MHO](https://comparepv.com/panel/horay-solar-hs525tc-mho) | 525 W | -10 W, lighter, -0.4 pp | | [Horay Solar HS530TC-MHO](https://comparepv.com/panel/horay-solar-hs530tc-mho) | 530 W | Lighter | | [Gamko New Energy GKA120N-PRO-590W](https://comparepv.com/panel/gamko-new-energy-gka120n-pro-590w) | 590 W | +55 W, lighter, +1.3 pp | | [Gamko New Energy GKA120N-PRO-585W](https://comparepv.com/panel/gamko-new-energy-gka120n-pro-585w) | 585 W | +50 W, lighter, +1.1 pp | | [Bisol BGO 580](https://comparepv.com/panel/bisol-bgo-580) | 580 W | +45 W, lighter, +1.0 pp | | [Gamko New Energy GKA120N-PRO-580W](https://comparepv.com/panel/gamko-new-energy-gka120n-pro-580w) | 580 W | +45 W, lighter, +0.9 pp | --- Source: https://comparepv.com/panel/horay-solar-hs535tc-mho-d Not in this file, on the page: the I-V and temperature curves lifted from the manufacturer's datasheet, a thirty-year output simulator, a bifacial gain calculator and alternatives filtered by how closely they match these dimensions.