By far, actually.
His post-Velvet career has been very patchy - he's made the occasional great song, rather than the great album. Of his solo work, I would recommend:
Transformer (1972) - the famous one. It's lots of fun.
Berlin (1973) - dark, challenging.
Coney Island Baby (1976) - lightweight at times. The title track is very evocative and nostalgic though.
Street Hassle (1978) - Gritty. Title track is a mini-opera that I rate among his best stuff, with a little cameo by Bruce Springsteen.
New York (1989) - Went gold. Some rate it high, I find it short on ideas.
Songs For Drella (with John Cale) (1990) - tribute to Andy Warhol. Often moving, and Cale's viola adds a little something to some of the songs.
Magic & Loss (1992) - Ponderous. The song "Harry's Circumcision" is utterly brilliant, though.
Set The Twilight Reeling (1996) - Maybe 3 good songs, lots of filler.
Ecstasy (2000) - Ditto. But a harder edge to the sound.
The Raven (2003) - Interesting take on Edgar Allan Poe.
These are the live albums:
Rock n Roll Animal (1974) US #45, Gold
Lou Reed Live (1975) US #62
Live: Take No Prisoners (1978)
Live in Italy (1984)
Beauty And Rust (Live in Leysin) (1992)
Live in Concert (A re-issue of the album Live in Italy ) (1996)
Perfect Night: Live in London (1998)
American Poet (2001)
Animal Serenade (2004)
None of them really essential. Nice to have, maybe.
On the whole, like John Lennon, he did much of his best work in the context of a group.