---
title: "Reliance New Energy vs Waaree - Brand Comparison | ComparePV"
description: "Compare Reliance New Energy vs Waaree solar panels: full portfolio, efficiency, cell technology breakdown, warranty terms and company background."
source: "https://comparepv.com/reliance-new-energy-vs-waaree"
---

# Reliance New Energy vs Waaree

Waaree has the broader catalog (222 vs 7 models). Waaree leads on peak efficiency at 23.51%. Reliance New Energy leans bifacial (100% of lineup).


## The two companies


| Attribute | Reliance New Energy | Waaree |
| --- | --- | --- |
| Country | India | India |
| Headquarters | Mumbai | Mumbai |
| Founded | 2021 | 1990 |
| Employees |  | 8500+ |
| Annual capacity | 10-20 GW/year | 13.3 GW/year |
| Tier 1 | yes | yes |
| Listed |  | NSE: WAAREEENER |
| Website | [https://www.ril.com/businesses/new-energy-materials](https://www.ril.com/businesses/new-energy-materials) | [https://www.waaree.com/](https://www.waaree.com/) |

Reliance New Energy Limited (RNEL) is a wholly-owned subsidiary of Reliance Industries Limited, India's largest conglomerate, established to build an integrated renewable energy business. It is developing solar photovoltaic module and cell manufacturing at the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar...

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...


## Catalog & Power


| Measure | Reliance New Energy | Waaree | Margin |
| --- | --- | --- | --- |
| Panel Models | 7 | 222 | +215 |
| Max Power | 720 W | 730 W | +10 W |
| Avg Power | 705 W | 371 W | +334 W |


## Efficiency


| Measure | Reliance New Energy | Waaree | Margin |
| --- | --- | --- | --- |
| Max Efficiency | 23.10% | 23.51% | +0.41 pp |
| Avg Efficiency | 22.64% | 18.39% | +4.25 pp |


## Reliability & Warranty


| Measure | Reliance New Energy | Waaree | Margin |
| --- | --- | --- | --- |
| Avg Temp Coefficient | -0.240%/°C | -0.362%/°C | +0.122 |
| Bifacial Share | 7 (100%) | 85 (38%) | +62 pp |
| Avg Warranty | 30.0 yrs | 21.7 yrs | +8.3 yr |


## Efficiency distribution

Reliance New Energy skews to higher efficiency: 29% of lineup is 23%+


| Efficiency band | Reliance New Energy | Waaree |
| --- | --- | --- |
| 22-23% | 5 (71.4%) | 13 (5.9%) |
| 23%+ | 2 (28.6%) | 9 (4.1%) |
| \<20% | 0 | 139 (62.6%) |
| 20-21% | 0 | 47 (21.2%) |
| 21-22% | 0 | 14 (6.3%) |


## Power distribution

Reliance New Energy offers more 600W+ panels (100% of lineup)


| Power band | Reliance New Energy | Waaree |
| --- | --- | --- |
| 600-699W | 2 (28.6%) | 20 (9.0%) |
| 700W+ | 5 (71.4%) | 7 (3.2%) |
| \<400W | 0 | 124 (55.9%) |
| 400-499W | 0 | 35 (15.8%) |
| 500-599W | 0 | 36 (16.2%) |


## Cell technology

Dominant cell tech: **HJT** (100%)

Dominant cell tech: **PERC** (48%)


| Technology | Reliance New Energy | Waaree |
| --- | --- | --- |
| HJT | 7 (100.0%) | 7 (3.2%) |
| PERC | 0 | 107 (48.2%) |
| Unknown | 0 | 88 (39.6%) |
| TOPCon | 0 | 12 (5.4%) |
| N-type | 0 | 8 (3.6%) |


## Top panels, Reliance New Energy


| # | Model | Power | Efficiency | Temp. coefficient | Technology |
| --- | --- | --- | --- | --- | --- |
| 1 | [RNE720AA-66-BGG](https://comparepv.com/panel/reliance-new-energy-rne720aa-66-bgg) | 720 | 23.1 | -0.240 | Monocrystalline |
| 2 | [RNE715AA-66-BGG](https://comparepv.com/panel/reliance-new-energy-rne715aa-66-bgg) | 715 | 23.0 | -0.240 | Monocrystalline |
| 3 | [RNE710AA-66-BGG](https://comparepv.com/panel/reliance-new-energy-rne710aa-66-bgg) | 710 | 22.8 | -0.240 | Monocrystalline |
| 4 | [RNE705AA-66-BGG](https://comparepv.com/panel/reliance-new-energy-rne705aa-66-bgg) | 705 | 22.6 | -0.240 | Monocrystalline |
| 5 | [RNE700AA-66-BGG](https://comparepv.com/panel/reliance-new-energy-rne700aa-66-bgg) | 700 | 22.5 | -0.240 | Monocrystalline |
| 6 | [RNE695AA-66-BGG](https://comparepv.com/panel/reliance-new-energy-rne695aa-66-bgg) | 695 | 22.3 | -0.240 | Monocrystalline |
| 7 | [RNE690AA-66-BGG](https://comparepv.com/panel/reliance-new-energy-rne690aa-66-bgg) | 690 | 22.2 | -0.240 | Monocrystalline |


## Top panels, Waaree


| # | Model | Power | Efficiency | Temp. coefficient | Technology |
| --- | --- | --- | --- | --- | --- |
| 1 | [BiH-11-730](https://comparepv.com/panel/waaree-bih-11-730) | 730 | 23.5 | -0.240 | Monocrystalline |
| 2 | [BiH-11-725](https://comparepv.com/panel/waaree-bih-11-725) | 725 | 23.3 | -0.240 | Monocrystalline |
| 3 | [BiH-11-720](https://comparepv.com/panel/waaree-bih-11-720) | 720 | 23.2 | -0.240 | Monocrystalline |
| 4 | [BiH-11-715](https://comparepv.com/panel/waaree-bih-11-715) | 715 | 23.0 | -0.240 | Monocrystalline |
| 5 | [BiH-11-710](https://comparepv.com/panel/waaree-bih-11-710) | 710 | 22.9 | -0.240 | Monocrystalline |
| 6 | [BiH-11-705](https://comparepv.com/panel/waaree-bih-11-705) | 705 | 22.7 | -0.240 | Monocrystalline |
| 7 | [BiH-11-700](https://comparepv.com/panel/waaree-bih-11-700) | 700 | 22.5 | -0.240 | Monocrystalline |
| 8 | [Bi-68-665](https://comparepv.com/panel/waaree-bi-68-665) | 665 | 21.3 | -0.340 | Monocrystalline |
| 9 | [WSMD-665](https://comparepv.com/panel/waaree-wsmd-665) | 665 | 21.3 | -0.340 | Monocrystalline |
| 10 | [WSMD-660](https://comparepv.com/panel/waaree-wsmd-660) | 660 | 21.1 | -0.340 | Monocrystalline |


## Summary

Reliance New Energy is the solar manufacturing arm of Reliance Industries, India's largest conglomerate, headquartered in Mumbai. Its solar business is new to the market: the first gigawatt-scale heterojunction (HJT) module production line at the Dhirubhai Ambani Green Energy Giga Complex in Jamnagar, Gujarat only began commissioning in 2025, as part of a planned quartz-to-module vertically integrated facility targeting 10 GW of initial annual capacity, expandable to 20 GW. As a newcomer, it does not yet appear on established Tier 1 or BloombergNEF bankability lists. Waaree Energies, by contrast, was founded in 1990, is based in Mumbai, and has grown into India's largest solar PV module manufacturer, with roughly 12 to 13 GW of operational capacity across five domestic facilities plus a new assembly plant in Brookshire, Texas. Waaree has held Tier 1 status under BloombergNEF for over 30 consecutive quarters and listed publicly on the BSE and NSE in October 2024. On institutional footprint and track record, Waaree currently holds the stronger position, while Reliance brings the financial scale and vertical-integration ambition of its parent conglomerate.

Waaree's product lineup spans multicrystalline, monocrystalline, and increasingly TOPCon cell technology, offered as bifacial, flexible, and building-integrated photovoltaic (BIPV) modules, generally in the 415-445 W range, making it a common choice for residential, commercial, and utility-scale projects across India and export markets including the US. Reliance's Jamnagar line is focused on higher-wattage HJT modules, with outputs reported up to 720 W and BIS certification in India, positioning it toward utility-scale and large commercial deployments where its vertically integrated, quartz-to-module supply chain could offer future cost and quality advantages once fully ramped.

For a typical buyer in 2025, Waaree is the more proven default, backed by a long operating history, established Tier 1/BNEF standing, and a broad, already-shipping product range. Reliance New Energy is a name to watch given its scale ambitions and HJT technology bet, but it is still early in commercial deployment and lacks the multi-year bankability track record that project financiers and installers typically require.

\---LINKS---

\- https://www.pv-magazine.com/2025/04/28/reliance-industries-switches-on-gw-scale-heterojunction-pv-module-line/ \| Reliance Industries switches on GW-scale HJT PV module line \| article

\- https://www.mercomindia.com/reliance-commissions-solar-module-manufacturing-facility \| Reliance Commissions First Line of GW-Scale Solar Module Facility \| article

\- https://www.solarreviews.com/blog/waaree-solar-panel-expert-review \| 2025 Waaree Solar Panels Expert Review \| review

\- https://www.solarquotes.com.au/panels/waaree-energies-pvt-review.html \| Waaree Energies Pvt - Solar Panels Review \| review

\- https://en.wikipedia.org/wiki/Dhirubhai\_Ambani\_Green\_Energy\_Giga\_Complex \| Dhirubhai Ambani Green Energy Giga Complex overview \| article

Written by claude-sonnet-5 from the figures above.


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Source: https://comparepv.com/reliance-new-energy-vs-waaree

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