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

# Waaree vs AE Solar

AE Solar has the broader catalog (646 vs 222 models). AE Solar leads on peak efficiency at 24.43%. AE Solar leans bifacial (63% of lineup).


## The two companies


| Attribute | Waaree | AE Solar |
| --- | --- | --- |
| Country | India | Germany |
| Headquarters | Mumbai | Gersthofen |
| Founded | 1990 | 2003 |
| Employees | 8500+ | 501-1000 |
| Annual capacity | 13.3 GW/year | 2+ GW/year |
| Tier 1 | yes | yes |
| Listed | NSE: WAAREEENER |  |
| Website | [https://www.waaree.com/](https://www.waaree.com/) | [https://ae-solar.com](https://ae-solar.com) |

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...

AE Solar is a German Tier 1 manufacturer of high-efficiency photovoltaic (PV) modules. The company specializes in producing durable and innovative solar panels with German engineering standards, offering solutions for residential, commercial, and utility-scale applications. AE Solar operates in over 100 countries and...


## Catalog & Power


| Measure | Waaree | AE Solar | Margin |
| --- | --- | --- | --- |
| Panel Models | 222 | 646 | +424 |
| Max Power | 730 W | 730 W |  |
| Avg Power | 371 W | 489 W | +118 W |


## Efficiency


| Measure | Waaree | AE Solar | Margin |
| --- | --- | --- | --- |
| Max Efficiency | 23.51% | 24.43% | +0.92 pp |
| Avg Efficiency | 18.39% | 21.11% | +2.71 pp |


## Reliability & Warranty


| Measure | Waaree | AE Solar | Margin |
| --- | --- | --- | --- |
| Avg Temp Coefficient | -0.362%/°C | -0.312%/°C | +0.050 |
| Bifacial Share | 85 (38%) | 405 (63%) | +24 pp |
| Avg Warranty | 21.7 yrs | 29.7 yrs | +8.0 yr |


## Efficiency distribution

AE Solar skews to higher efficiency: 9% of lineup is 23%+


| Efficiency band | Waaree | AE Solar |
| --- | --- | --- |
| \<20% | 139 (62.6%) | 74 (11.5%) |
| 20-21% | 47 (21.2%) | 171 (26.5%) |
| 21-22% | 14 (6.3%) | 142 (22.0%) |
| 22-23% | 13 (5.9%) | 199 (30.8%) |
| 23%+ | 9 (4.1%) | 60 (9.3%) |


## Power distribution

AE Solar offers more 600W+ panels (13% of lineup)


| Power band | Waaree | AE Solar |
| --- | --- | --- |
| \<400W | 124 (55.9%) | 78 (12.1%) |
| 400-499W | 35 (15.8%) | 329 (50.9%) |
| 500-599W | 36 (16.2%) | 154 (23.8%) |
| 600-699W | 20 (9.0%) | 55 (8.5%) |
| 700W+ | 7 (3.2%) | 30 (4.6%) |


## Cell technology

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

Dominant cell tech: **TOPCon** (54%)


| Technology | Waaree | AE Solar |
| --- | --- | --- |
| PERC | 107 (48.2%) | 245 (37.9%) |
| Unknown | 88 (39.6%) | 0 |
| TOPCon | 12 (5.4%) | 349 (54.0%) |
| N-type | 8 (3.6%) | 17 (2.6%) |
| HJT | 7 (3.2%) | 5 (0.8%) |
| Back Contact | 0 | 21 (3.3%) |
| BIPV | 0 | 9 (1.4%) |


## 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 |


## Top panels, AE Solar


| # | Model | Power | Efficiency | Temp. coefficient | Technology |
| --- | --- | --- | --- | --- | --- |
| 1 | [CME-132BDS-730](https://comparepv.com/panel/ae-solar-cme-132bds-730) | 730 | 23.5 | -0.290 | Monocrystalline |
| 2 | [CME-132BDS-730W](https://comparepv.com/panel/ae-solar-cme-132bds-730w) | 730 | 23.5 | -0.290 | Monocrystalline |
| 3 | [CME-132BDS-725](https://comparepv.com/panel/ae-solar-cme-132bds-725) | 725 | 23.4 | -0.290 | Monocrystalline |
| 4 | [CME-132-725W](https://comparepv.com/panel/ae-solar-cme-132-725w) | 725 | 23.4 | -0.290 | Monocrystalline |
| 5 | [CME-132BDS-725W](https://comparepv.com/panel/ae-solar-cme-132bds-725w) | 725 | 23.4 | -0.290 | Monocrystalline |
| 6 | [AE CME-132 720](https://comparepv.com/panel/ae-solar-ae-cme-132-720) | 720 | 23.2 | -0.290 | Monocrystalline |
| 7 | [CME-132BDS-720](https://comparepv.com/panel/ae-solar-cme-132bds-720) | 720 | 23.2 | -0.290 | Monocrystalline |
| 8 | [AE CME-132-720](https://comparepv.com/panel/ae-solar-ae-cme-132-720-1) | 720 | 23.2 | -0.290 | Monocrystalline |
| 9 | [CME-132-720W](https://comparepv.com/panel/ae-solar-cme-132-720w) | 720 | 23.2 | -0.290 | Monocrystalline |
| 10 | [CME-132BDS-720W](https://comparepv.com/panel/ae-solar-cme-132bds-720w) | 720 | 23.2 | -0.290 | Monocrystalline |


## Summary

AE Solar, founded in 2003 in Germany, has built a reputation as a premium Tier 1 manufacturer with a strong focus on engineering quality and certification rigor. Operating manufacturing facilities in China, Georgia, and Turkey, the company employs between 500 and 1,000 people and maintains a production capacity exceeding 2 GW. In 2024, Bloomberg NEF recognized AE Solar as Europe's sole Tier 1 PV manufacturer with high bankability - a distinction reinforced by its status as the first DIBt-certified Tier 1 module maker and its Kiwa PVEL Top Performer Award in 2025. Waaree, founded in 1990 and headquartered in Mumbai, India, operates at a fundamentally different scale: with a production capacity of 13.3 GW and more than 8,500 employees across manufacturing plants in Gujarat, it ranks among the largest solar module producers globally. Waaree is listed on India's NSE and recently became the first Indian manufacturer to achieve PV Tech's ModuleTech Bankability 'A' rating, confirming its Tier 1 standing on the world stage.

On the technology side, AE Solar's 442-model portfolio leans heavily into N-type TOPCon cells, which account for nearly 50% of its lineup and drive a maximum module efficiency of 24.43% and an average of 21.34%. Its bifacial module share of 63.8% and a favorable average temperature coefficient of -0.313%/°C make AE Solar modules well-suited to residential rooftop installs and commercial C&I projects where per-square-meter output and long-term performance reliability matter most. The near-30-year average warranty further supports confidence in high-value installations. Waaree's 214-model catalog is anchored by PERC technology at 50% of offerings, with an average efficiency of 18.24% and a maximum of 23.5%. Its lower bifacial share (36%) and higher temperature coefficient (-0.364%/°C) reflect a broader, price-diversified range - yet the company's massive scale gives it a decisive advantage in utility-scale ground-mount projects where volume, logistics capacity, and cost per watt are the primary selection criteria.

For international buyers choosing between the two, the decision turns on project type and procurement scale. AE Solar is the stronger fit for installers and developers who prioritize cutting-edge cell technology, strong European certification credentials, and long warranty coverage - particularly in residential and C&I markets. Waaree is the more compelling proposition for large-scale project developers who need significant module volumes at competitive pricing, backed by one of the fastest-growing manufacturing footprints in the global solar industry.

Written by claude-sonnet from the figures above.


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

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