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The 7 Most Efficient Solar Panels of 2024: Expert Reviewed
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We recommend Maxeon as the best high-efficiency system because of the company’s average panel efficiency of 20%–22.8%. 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. Investing in top performing residential solar panels with excellent efficiency rates helps maximize your potential energy savings from solar and improve the ROI on your solar system.
We spent more than 90 hours researching the most efficient solar panels from top manufacturers. In this guide, we share our top picks and explain factors that impact panel efficiency, as well as tips for choosing the best options for your home solar system.
Key Takeaways
Compare the Most Efficient Solar Panels
Below are our picks for the most efficient solar panels, listed from highest to lowest available efficiency rate. Our list includes only high-efficiency monocrystalline panel options.
| Brand | Efficiency Rate | Best For |
|---|---|---|
| Maxeon | 20%–22.8% | Energy efficiency |
| Canadian Solar | 18.7%–22.8% | DIY installations |
| REC | 19.1%–22.3% | Durability |
| Panasonic | 21.2%–22.2% | Hot climates |
| Silfab | 18.9%–21.4% | Warranty protection |
| LONGi | 20.3%–21.2% | Mid-Tier option |
| Q Cells | 19.6%–20.9% | Value |
What Should I Know About Choosing Solar Panels?
Before reading about the panel brands we recommend, learn answers to common solar efficiency questions to better understand how the brands on our list compare.
Solar panel efficiency refers to how well a panel converts sunlight into usable electricity compared to the panel’s size. Solar panel efficiency is expressed as a percentage.
Today’s leading solar manufacturers produce panels commonly measuring at 19%–21% efficiency. This is considered competitively efficient. An exceptionally efficient solar panel measures above 21%.
Solar panels can never be 100% efficient. According to the National Renewable Energy Laboratory (NREL), the highest efficiency ever achieved was 47.6%, recorded in 2022. These advancements help solar panel manufacturers discover new ways to produce higher-efficiency products.
7 Most Efficient Solar Panels of 2024
We analyzed solar panel efficiency ratings, cost per watt, panel options, and warranty period to see which panel brands offer the most. The following options topped our list for most efficient solar panels:
Our Top Solar Panel Picks
What Is Solar Panel Efficiency and Why Does It Matter?
The best solar panel companies use solar efficiency to measure solar panels’ ability to convert sunlight into usable electricity. Efficiency ratings are expressed as percentages to help you quickly compare the different panels’ performance. For example, if a solar panel has a 20% efficiency rate, 20% of its captured energy is converted into usable electricity. A solar energy system that operates at a higher efficiency leads to a better return on investment (ROI) for the buyer.
Faster Payback
The average solar payback period is six to 10 years. Howevcer, if your panels operate at peak efficiency, you may be able to close that gap faster. High-efficiency solar panels produce excellent energy, leading to better savings on electricity bills and quicker ROI.
Space Efficiency and Lower Impact of Project
High-quality solar panels offer better power production, leading to fewer panels in your installation. Fewer panels also mean less crowding and more roof space. Monocrystalline panels work especially well for homes with limited roof space. Although monocrystalline panels are more expensive, their higher efficiency rate means you’ll cut down on labor and material costs compared to buying one of the best cheap solar panels, which have lower up front costs and efficiency.
What Affects Solar Panel Efficiency?
Other physical attributes can impact solar panel efficiency. We’ve listed some of the most significant panel features to look out for below.
Solar panel backing determines how much sunlight is reflected instead of converted to electricity. The less sunlight a panel reflects, the more efficient it is. Many companies add antireflective coatings to increase efficiency.
A solar panel’s efficiency rate depends mainly on its type. Monocrystalline solar panels are currently the most common and efficient option for a solar energy system. However, polycrystalline or thin-film solar panels may better fit your home if you have excess roof space or low energy needs. We’ll discuss the different types of solar panels in the section below.
Improper wiring can significantly impact your solar panel system’s efficiency. Different solar modules may have slightly different electrical and wiring components. A mismatch during installation can lead to performance loss. The same issue can occur if inverters between solar panels are mismatched.
For example, you might buy various monocrystalline panels, but each panel’s design may cause a dip in efficiency if they’re not designed to work together. Getting residential solar panels and inverters from the same manufacturer is always best.
Efficiency by Solar Panel Type
There are three types of solar panels: monocrystalline, polycrystalline, and thin-film. Each type has a different efficiency, life span, and cost.
| Type | Average Efficiency | Life Span | Average Cost Per Watt* |
|---|---|---|---|
|
Monocrystalline |
15%–23% |
25–40 years |
$1.00–$1.50 |
|
Polycrystalline |
13%–16% |
25–35 years |
$0.75–$1.00 |
|
Thin-film |
7%–12% |
10–20 years |
$0.43–$0.70 |
*Average per-watt cost based on wholesale prices (without installation). Cost data from Aurora Solar.
Monocrystalline Panels
Monocrystalline (or mono) panels are the most efficient solar panels available. They use a single silicon crystal in their construction. This single crystal provides better sunlight conversion, improving efficiency and energy production. These panels have an all-black appearance, allowing them to blend in better with rooftop designs.
Mono panels come in more compact sizes, making them suitable for homes with limited roof space. They also work well in low-light conditions, which is ideal for cloudy areas. Due to their higher efficiency and production costs, mono panels are pricier than other panel options.
Polycrystalline Panel
Polycrystalline (poly) panels incorporate multiple silicon structures in their design. They have more inconsistencies within the solar cell, resulting in lower efficiency. These panels have a blue hue, making them more visible on rooftop installations. Since they provide lower energy production levels, you’ll need more poly panels to support your energy needs. These panels work best at home with ample roof space and sunlight. Manufacturing poly panels costs less than mono panels, resulting in lower pricing.
Thin-Film Panels
Thin-film solar panels use thin layers of photovoltaic substance in their design, making them more flexible. These panels weigh less than mono and poly varieties but offer the lowest overall efficiency ratings. Thin-film panels have the thinnest construction, making for an easy installation. However, they lack durability and a shorter life span than other panel options. This is why they’re the least expensive solar panel option.
Most solar installers won’t recommend thin-film panels for your home, though they may be incorporated into smaller-scale solar projects, such as a shed or garage.
What Environmental Factors Impact Solar Panel Efficiency?
Many environmental factors also influence a solar power system’s efficiency. A solar installer will consider these factors when calculating your quote and possible savings. Below are the most significant environmental factors that affect system performance.
Temperature
Typically, solar panels have peak efficiency between 59 degrees Fahrenheit and 95 degrees Fahrenheit. Most panels have standard testing conditions of around 77 degrees Fahrenheit. High temperatures can hinder a panel’s performance. If your solar panels get hotter than 130 degrees Fahrenheit, you may experience a performance drop.
Shading
Obstructions such as trees, hills, and other buildings may create shaded roof areas at different times of the day, which can reduce the amount of sunlight your solar panels get. How much this affects solar panel power output depends on how long the shading occurs and the shadow size.
Soiling
Soiling refers to the accumulation of debris, such as dust or snow, on your solar panels’ surfaces. This debris reduces the sunlight that reaches the solar cells, causing inefficiency. Although most panels are cleaned naturally by rain, you may need additional cleaning if you live in an area susceptible to dust, snow, or drought.
Weather
Weather and climate play a critical role in your solar energy system’s performance. Overcast regions with more rain and storms are less suited for solar power than regions with clear skies and plenty of sunshine. However, you can still build a solar energy system to power your home effectively in these conditions.
Orientation, Latitude, and Angle
Your roof’s angle and the direction it faces affect how suited your home is for solar. A south-facing roof is best for solar panels. West and east-facing rooftops also work well but won’t be as efficient. North-facing roofs are often denied for solar panel installation due to their inefficiency.
Your latitude also influences the best direction for your panels. For example, a north-facing roof in Texas or Florida may produce as well as a south-facing roof in Illinois or Pennsylvania. Because many utilities charge more for peak electricity in the afternoon, some homeowners install west-facing solar panels to offset these peak charges, even though a south-facing system is more efficient.
Additionally, for maximum efficiency, a 30-degree angle is best for year-round solar energy production. Many solar companies will consider an installation if your roof is between 15–40 degrees, but 30 degrees offers peak performance.
What Should I Consider When Buying Solar Panels?
Several influences, such as average energy use, local climate, and roof structure, can affect your future solar panel system. Below are some key factors to consider before installing a solar system.
How Much Do Efficient Solar Panels Cost?
Efficiency monocrystalline solar panels average $1–$1.50 per watt. Before applying solar incentives to reduce costs, that comes to around $29,410 for a 2,000-square-foot home. Various factors influence solar panel costs, such as your energy needs, financing options, and available tax incentives. Below are the main financial factors to keep in mind.
- Household electrical demand: Your monthly energy needs impact your solar array size. Homes with mostly gas appliances will use less electricity than those with mostly electric appliances.
- Purchasing options: Paying for your system up-front is the most cost-effective way to finance a solar project because you receive access to tax incentives and avoid additional interest accrual on a loan. Solar loans also qualify you for tax incentives. Solar leases and power purchase agreements (PPAs) offer little to no up-front cost. However, they disqualify you from solar incentives.
- Solar panel installation cost: The installation price varies by location and solar provider. Cost also depends on your chosen solar panel brand, type, and system upgrades. In most cases, you must decide between monocrystalline and polycrystalline panels. Mono panels cost more than poly options.
- Tax incentives: The federal solar tax credit provides 30% back for solar installation costs. Additional solar tax incentives vary according to state. We recommend using the Database of State Incentives for Renewables & Efficiency (DSIRE) to find all available statewide solar incentives.
Our Conclusion
Based on our research, Maxeon offers the most efficient panels, with ratings close to 23%. You must sign up with Blue Raven Solar or another authorized dealer to use Maxeon panels. If you’re looking for a more cost-effective alternative, consider Q Cells panels. These panels offer high-efficiency ratings at a lower price tag than Maxeon.
Although solar panel efficiency is essential to system performance, other factors, such as available roof space, system costs, home design, and climate, could impact when panels work best for your home. We recommend getting quotes from at least three solar installers to compare panel options.
FAQ About Solar Panel Efficiency
What is the most effective type of solar panel?
Monocrystalline panels are the most effective type of solar panel, typically performing at 20% efficiency or higher in many cases.
Is there a 30% efficient solar panel?
A few research institutions have developed solar panels with efficiency ratings of 30% or higher in recent years, but this technology has not been adopted in mainstream manufacturing processes, so there isn’t a solar manufacturer today that sells panels with this level of efficiency.
Why does solar panel efficiency matter?
Solar panel efficiency matters because the more efficient your panels are, the more energy they’ll produce and electricity costs they’ll offset. This leads to a faster payback period on your system and better ROI.
Our Rating Methodology
We are committed to providing comprehensive and unbiased reviews to our readers. After over a thousand hours of research on solar companies, interviews with experts, and common customer needs, we’ve created a detailed rating system for solar providers based on six factors:
- Solar equipment, installation, and services (25%)
- Warranty and performance guarantees (25%)
- Brand reputation and certifications (15%)
- Financing options (15%)
- Experience (10%)
- Availability (10%)
Total scores are divided by 20 for a final 5-point rating scale.
To share feedback or ask a question about this article, send a note to our Reviews team at reviews@thisoldhousereviews.com.
