What is average solar panel efficiency?
The average efficiency of solar panels is typically between 19% and 21%.
This means that, on average, a solar panel is able to convert between 15% and 20% of the sunlight that it receives into usable electricity. The efficiency of a solar panel can be affected by a number of factors, including the type of material used in the panel, the quality of the panel's construction, and the amount of sunlight the panel receives. Some solar panels are able to achieve efficiencies of over 25%, but these are generally more expensive and not as commonly used.
The most efficient solar panels currently on the market are made with a type of material called "multijunction photovoltaic cells." These cells are able to convert more of the sunlight that they receive into usable electricity than traditional solar panels, resulting in higher efficiencies. The current record for the highest efficiency for a solar panel is 46.1%, which was achieved using a multijunction photovoltaic cell. However, these cells are typically much more expensive and not as widely used as traditional solar panels.
The most common commercially available solar panels are 19-21% efficiencies which provide a very viable commercial proposal when electricity prices are taken into the account.