Efficiency leadership continued to advance, with BC holding the top 2 ranks and TOPCon entering the top 3 for the first time in December 2025
Product mix shifted toward higher efficiencies, as the >22.5% efficiency band expanded from 16% of listed products in January 2024 to 47% by December 2025
TOPCon technology emerged as the most represented technology at 44% share by end-2025, and module power leadership reached 730 W, where TOPCon matched HJT for the first time in H2 2025
This 7th edition of the TOP SOLAR MODULES Analysis marks the completion of 4 years since we started publishing the monthly feature – TaiyangNews TOP SOLAR MODULES. This feature aims to list the commercially available high-efficiency modules from leading integrated suppliers across all mainstream cell technologies. Since it is impractical to map the entire past data, which, if required, can be accessed from our previous reports, this report considers the data from the last 24 editions of the TOP SOLAR MODULES editions. What has also not changed is that the efficiency remained the key basis for the analysis. Several parameters, such as top rankings, progress of products in different efficiency pockets, and efficiency developments within a cell technology stream.
Over the evaluation period from January 2024 to December 2025, while the number of products decreased considerably from 55 to 45, the number of suppliers for these modules increased marginally to 33. The dip is mainly because more companies are focusing on the latest technologies and ceasing development and commercial activities for PERC. These products are being phased out and are, therefore, excluded from our listing (see Product Count & Companies In TOP SOLAR MODULES).
Speaking of the top 3 ranks, traditionally, this has been exclusive to BC. Even in this report, the top 2 ranks are still held by BC, while, for the first time, TOPCon is part of this club at 3rd rank. It is important to note that module makers are continuing to push the limits and inching toward the practical limit of crystalline silicon modules, with progress remaining consistent. By the end of 2025, the TOP SOLAR MODULES list featured 2 commercial module products with efficiencies above 24.5%. The top efficiencies of each technology are also equally interesting: BC naturally leads with 24.8%, TOPCon with 23.7%, HJT with 23.5%, and PERC with 21.7% (see Top Efficiency By Cell Technology).
To ease the analysis, the listed products are grouped into 4 efficiency bands: >22.5%, >22.0%-22.5%, >21.7%-22.0%, and 21.5%-21.7%. Chapter 4 in the TOP SOLAR MODULE Analysis report 2025 details the collective progress of each band and the progress of the products listed in each band. An important trend is that the highest-efficiency band (>22.5%) was the least represented in terms of the number of products 2 years ago and has now become the most populous band. Its share in overall products listed in the TOP SOLAR MODULES increased from 16% in January 2024 to 47% in December 2025. The lowest-efficiency range (21.5%-21.7%), on the other hand, is going through an inverse cycle of this trend. The 21.7%-22.0% band remained the least represented, while the >22.0%-22.5% band serves as a quick stopover before the products are upgraded to the next band (see Module Efficiency Developments By Efficiency Band).
Analyzing efficiency progress by cell technology adds another layer of insight. By the end of 2025, TOPCon emerged as the leading technology, with a 44% share, followed by PERC at 29% and HJT at 20%. BC remained the least represented technology at 7%, underscoring its exclusivity and the challenges of commercializing it . The report also details the individual product development listed under each cell technology (see Product Shares Of Different Cell Technologies).
This report also features a high-level review of module power ratings. We evaluate power development in 2 ways: by tracking the top 3 power ratings overall and by tracking power progress for each cell technology. Historically, HJT has led the TOP SOLAR MODULES listing in absolute power. However, this leadership became non-exclusive in H2 2025, when TOPCon matched HJT at the 730 W level (see Top 3 Power Ratings In TOP SOLAR MODULES).
Finally, Chapter 7 compiles a company-wise summary of all listed modules, presenting their respective efficiency and power standings at a glance.
This is the executive summary part of TaiyangNews’ latest TOP SOLAR MODULES Report 2025, which can be downloaded for free here.
