Why Won't Reliance Sell Its HJT Solar Panels?

Reliance spent $771 million to acquire REC Group and is now the only company in India making HJT (heterojunction) solar cells. So why won't it sell its solar panels in the open market? Reliance gives one reason for keeping its HJT panels for its own use. In this video, I break down what I believe is the real reason. We cover the full HJT vs TOPCon story in India: how Reliance secured HJT technology before China tightened its export controls, why every other major solar manufacturer chose TOPCon instead, and how much extra electricity an HJT panel actually generates compared with a TOPCon panel on a 3kW rooftop solar system in Delhi's 45°C summer heat. If you're planning to install rooftop solar in 2026 and wondering whether to choose HJT or TOPCon solar panels, watch till the end. The difference in output is smaller than most people think, and the bigger risk to your 25-year investment is something else entirely. ⏱️ TIMESTAMPS 0:00 Reliance: the only company making HJT solar panels in India 1:10 The story begins: China's HJT technology export controls 1:41 Reliance acquires REC Group ($771M, 2021) 2:18 Building the Jamnagar HJT giga factory from scratch 2:45 If HJT is superior, why isn't anyone else making it? 3:03 Reliance's first 200 MW batch of HJT panels 3:19 Reliance's official reason: the Kutch solar park and green hydrogen 4:20 The 2021 statement that contradicts the "own use" claim 4:50 HJT vs TOPCon: the real output difference 5:04 ITRPV 2026 report: HJT's high-temperature advantage 5:36 3kW Delhi simulation: HJT vs TOPCon annual generation 6:13 Why every manufacturer chose TOPCon 6:28 PERC factory upgrade vs a completely new HJT factory 7:37 High-temperature vs low-temperature manufacturing 7:59 The cost gap: HJT capex and opex vs TOPCon 8:20 My hypothesis: Reliance's Jio playbook 8:55 How Chinese R&D helped TOPCon catch up with HJT 10:01 HJT or TOPCon: which solar panel should you buy? 10:24 Panel replacement after 8–10 years: the spare-parts problem 11:02 The real battle: back contact solar panels 12:33 Which technology gets back contact first? 13:19 Is HJT a bad technology? 14:15 The bigger question: will your panel manufacturer survive 25 years? 14:34 Lumencity Survivability Index 15:26 Delhi's free rooftop solar scheme 🔗 USEFUL LINKS Lumencity website: https://www.lumencity.in/ Lumencity Survivability Index (top 10 solar panel manufacturers ranked by their probability of staying in business for 25 years): https://lumencity.in/blog/solar-polic... Delhi Free Rooftop Solar Scheme (eligibility and how to apply): https://lumencity.in/blog/solar-energ... 📌 KEY TAKEAWAYS HJT and TOPCon are both n-type solar technologies, and their module efficiency is now nearly the same. HJT's one real edge is heat tolerance, which matters on hot Indian rooftops. In our 3kW Delhi simulation, HJT generated only about 40–60 extra units a year. A PERC line can be upgraded to TOPCon with little investment. HJT needs an entirely new factory with far higher capex. Choose the technology with mass adoption. Replacement panels will be far easier to find in year 8 or 10. Back contact technology, not HJT, may be TOPCon's real long-term challenger. ⚠️ Sections marked "My Hypothesis" are my personal reading of publicly available information, not confirmed facts. Figures quoted from Reliance are company claims. 📞 Planning rooftop solar for your home or business? Lumencity | Delhi | Since 2014 | 275+ MW installed across 7,000+ sites Email: info@lumencity.in #HJTSolarPanel #TOPConSolarPanel #RelianceSolar #SolarPanelIndia #RooftopSolar #SolarEnergy #Lumencity