The conversion rate of solar photovoltaic panels varies, but on average, it lies between 15% and 22%, efficiency is influenced by factors like temperature, sunlight quality, and installation angle, newer technologies are continually being developed to improve this efficiency. Efficiency, in combination with latitude and weather, determine the energy output of a solar system. For example, a solar panel with 20% efficiency and an area of 1 m 2 produces 200 kWh/yr. Solar panel efficiency is the amount of sunlight (solar irradiance) that falls on the surface of a solar panel and is converted into electricity. Due to the many advances in photovoltaic technology over the last decade, the average panel conversion efficiency has increased from 15% to over 24%. Solar panels, also known as solar modules, are an assembly of individual photovoltaic cells that are electrically interconnected together in series and/or parallel. Then the conversion efficiency of a solar cell or panel, is a key parameter of any photovoltaic cell as the more efficient the solar panel is, the more electricity it will produce making it more competitive against other sources of energy generation. Access our research-cell efficiency data.