How efficient are solar panels?

Solar panels available today can have efficiencies above 22%. Solar technology has made leaps and bounds toward higher efficiency. Just five years ago, the average solar panel efficiency in quotes through EnergySage was 19%. In 2024, the average efficiency is about 21.4%, which translates to 10% more electricity produced per panel.

How efficient are solar panels in 2024?

In 2024, the average efficiency is about 21.4%, which translates to 10% more electricity produced per panel. Within those averages, you'll find solar panels with a range of efficiency ratings. It might not surprise you that you'll usually pay more for solar panels with greater efficiency.

What are solar panel efficiency ratings?

Solar panel efficiency ratings indicate how well solar panels convert sunlight into usable energy. The higher the efficiency, the better the energy conversion and electricity production, which saves you more money on your power bill.

How efficient are solar cells?

Research into solar cells (the energy-producing components that make up solar panels) has produced much higher efficiencies in the lab. The National Renewable Energy Laboratory tracks the highest efficiencies achieved in standardized lab conditions. The highest-ever solar cell efficiency was 47.6%, recorded in June 2022.

What is the most efficient residential solar panel?

Maxeon’s SunPower Residential AC 440 W residential model takes first place as the most efficient residential home solar panel. Maxeon has been using the same technology it patented in 2005, keeping it a top maker of high-efficiency solar panels for years.

How much energy does a solar panel use?

It depends on the solar panel. The most efficient solar panel on our list tops 24%, meaning they convert more than 24% of the available energy from sunlight into usable electricity. Not all solar panels hit that figure, and the ones you buy might fall below it.