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

# Vikram Solar vs Waaree

Waaree has the broader catalog (222 vs 202 models). Vikram Solar leads on peak efficiency at 23.69%. Vikram Solar leans bifacial (74% of lineup).


## The two companies


| Attribute | Vikram Solar | Waaree |
| --- | --- | --- |
| Country | India | India |
| Headquarters | Kolkata | Mumbai |
| Founded | 2005 | 1990 |
| Employees | 1,895 | 8500+ |
| Annual capacity | 9.5 GW/year | 13.3 GW/year |
| Tier 1 | yes | yes |
| Listed | NSE, BSE: VIKRAMSOLR | NSE: WAAREEENER |
| Website | [http://www.vikramsolar.com](http://www.vikramsolar.com) | [https://www.waaree.com/](https://www.waaree.com/) |

Vikram Solar Limited is a leading Indian solar photovoltaic (PV) module manufacturer and solar solutions provider. They offer engineering, procurement, construction (EPC), and operations & maintenance (O&M) services for solar plants. The company manufactures high-efficiency solar PV modules and has a pan-India...

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 | Vikram Solar | Waaree | Margin |
| --- | --- | --- | --- |
| Panel Models | 202 | 222 | +20 |
| Max Power | 735 W | 730 W | +5 W |
| Avg Power | 553 W | 371 W | +182 W |


## Efficiency


| Measure | Vikram Solar | Waaree | Margin |
| --- | --- | --- | --- |
| Max Efficiency | 23.69% | 23.51% | +0.18 pp |
| Avg Efficiency | 21.45% | 18.39% | +3.06 pp |


## Reliability & Warranty


| Measure | Vikram Solar | Waaree | Margin |
| --- | --- | --- | --- |
| Avg Temp Coefficient | -0.334%/°C | -0.362%/°C | +0.028 |
| Bifacial Share | 150 (74%) | 85 (38%) | +36 pp |
| Avg Warranty | 28.6 yrs | 21.7 yrs | +7.0 yr |


## Efficiency distribution

Vikram Solar skews to higher efficiency: 8% of lineup is 23%+


| Efficiency band | Vikram Solar | Waaree |
| --- | --- | --- |
| \<20% | 11 (5.4%) | 139 (62.6%) |
| 20-21% | 42 (20.8%) | 47 (21.2%) |
| 21-22% | 106 (52.5%) | 14 (6.3%) |
| 22-23% | 27 (13.4%) | 13 (5.9%) |
| 23%+ | 16 (7.9%) | 9 (4.1%) |


## Power distribution

Vikram Solar offers more 600W+ panels (42% of lineup)


| Power band | Vikram Solar | Waaree |
| --- | --- | --- |
| \<400W | 12 (5.9%) | 124 (55.9%) |
| 400-499W | 54 (26.7%) | 35 (15.8%) |
| 500-599W | 52 (25.7%) | 36 (16.2%) |
| 600-699W | 69 (34.2%) | 20 (9.0%) |
| 700W+ | 15 (7.4%) | 7 (3.2%) |


## Cell technology

Dominant cell tech: **PERC** (75%)

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


| Technology | Vikram Solar | Waaree |
| --- | --- | --- |
| PERC | 152 (75.2%) | 107 (48.2%) |
| N-type | 30 (14.9%) | 8 (3.6%) |
| HJT | 12 (5.9%) | 7 (3.2%) |
| TOPCon | 8 (4.0%) | 12 (5.4%) |
| Unknown | 0 | 88 (39.6%) |


## Top panels, Vikram Solar


| # | Model | Power | Efficiency | Temp. coefficient | Technology |
| --- | --- | --- | --- | --- | --- |
| 1 | [SURYAVA VSMDH.66.735.05](https://comparepv.com/panel/vikram-solar-suryava-vsmdh-66-735-05) | 735 | 23.7 | -0.260 | Monocrystalline |
| 2 | [SURYAVA VSMDH.66.730.05](https://comparepv.com/panel/vikram-solar-suryava-vsmdh-66-730-05) | 730 | 23.5 | -0.260 | Monocrystalline |
| 3 | [SURYAVA VSMDH.66.725.05](https://comparepv.com/panel/vikram-solar-suryava-vsmdh-66-725-05) | 725 | 23.3 | -0.260 | Monocrystalline |
| 4 | [SURYAVA VSMDH.66.720.05](https://comparepv.com/panel/vikram-solar-suryava-vsmdh-66-720-05) | 720 | 23.2 | -0.260 | Monocrystalline |
| 5 | [HYPERSOL VSMDH.66.AAA.05-720](https://comparepv.com/panel/vikram-solar-hypersol-vsmdh-66-aaa-05-720) | 720 | 23.2 | -0.280 | Monocrystalline |
| 6 | [SURYAVA VSMDH.66.715.05](https://comparepv.com/panel/vikram-solar-suryava-vsmdh-66-715-05) | 715 | 23.0 | -0.260 | Monocrystalline |
| 7 | [HYPERSOL VSMDH.66.715.05](https://comparepv.com/panel/vikram-solar-hypersol-vsmdh-66-715-05) | 715 | 23.0 | -0.300 | Monocrystalline |
| 8 | [HYPERSOL VSMDH.66.AAA.05-715](https://comparepv.com/panel/vikram-solar-hypersol-vsmdh-66-aaa-05-715) | 715 | 23.0 | -0.280 | Monocrystalline |
| 9 | [SURYAVA VSMDH.66.710.05](https://comparepv.com/panel/vikram-solar-suryava-vsmdh-66-710-05) | 710 | 22.9 | -0.260 | Monocrystalline |
| 10 | [HYPERSOL VSMDH.66.710.05](https://comparepv.com/panel/vikram-solar-hypersol-vsmdh-66-710-05) | 710 | 22.9 | -0.300 | 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

Vikram Solar is an Indian manufacturer headquartered in Kolkata, West Bengal, founded in 2005 by Gyanesh Chaudhary. The company holds BloombergNEF Tier 1 status and, following the commissioning of its new Vallam facility in Tamil Nadu in late 2025, reached a total module manufacturing capacity of approximately 9.5 GW. Waaree Energies, headquartered in Mumbai and established in the early 1990s, is India's largest solar module manufacturer. It has maintained BloombergNEF Tier 1 status for 35 consecutive quarters and became the first Indian manufacturer to receive a PV Tech ModuleTech Bankability "A" rating. Waaree's global manufacturing capacity stands at approximately 22.3 GW, combining domestic Indian plants with a 2.6 GW facility in the United States. On institutional scale and bankability credentials, Waaree holds a materially stronger position.

Vikram Solar's current portfolio is built around n-type TOPCon modules, with its Vallam plant engineered for a seamless transition to HJT production as that technology scales. The company addresses utility-scale ground-mount, commercial and industrial, and residential segments, and has secured European supply agreements including a 200 MW TOPCon deal with AB Energia. Waaree's lineup is broader in both power class and technology: its TOPCon modules extend beyond 700 W peak power, while the Plexus HJT bifacial series reaches module efficiencies of up to approximately 23.5% according to published specifications. This range lets Waaree serve small rooftop systems and multi-hundred-megawatt utility tenders with essentially the same supply chain. Both manufacturers offer bifacial n-type options.

For most international buyers - particularly project developers requiring strong bankability support from lenders, or procurement teams managing large volume orders - Waaree is the more straightforward default, given its production scale, US manufacturing footprint relevant for IRA-compliant projects, and the depth of its third-party bankability track record. Vikram Solar is a credible and growing alternative, especially for buyers with established European relationships or those who prioritize a focused manufacturer actively investing in next-generation cell technology. At mid-scale commercial or residential volume, both brands can deliver competitive products, and the decision may ultimately come down to price, lead time, and local distribution support.

Written by claude-sonnet from the figures above.


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Source: https://comparepv.com/vikram-solar-vs-waaree

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