6 Most Efficient Solar Panels in February 2024

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High-efficiency solar panels help your system perform better and save you money. Here are our top recommendations. Hybrid Inverter With Limiter

6 Most Efficient Solar Panels in February 2024

Faith Wakefield is a writer based in North Carolina. She holds economics and English degrees from UNC Chapel Hill, and her work has been featured on EcoWatch, The World Economic Forum and Today’s Homeowner. In her free time, she loves to binge-watch personal finance videos on YouTube, collect books and spend time in nature.

Tori Addison is an editor who has worked in the digital marketing industry for over five years. Her experience includes communications and marketing work in the nonprofit, governmental and academic sectors. A journalist by trade, she started her career covering politics and news in New York’s Hudson Valley. Her work included coverage of local and state budgets, federal financial regulations and health care legislation.

Investing in efficient solar panels is a great way to increase your energy production. It also maximizes your energy savings and accelerates your return on investment. We at the Marketwatch Guides Team have researched the best solar panels available and highlighted the most efficient options. We’ve also answered key questions about what makes solar panels efficient and which factors impact efficiency the most.

Solar panel costs listed in this article are at wholesale prices without installation. All pricing information is courtesy of Scott Williams of Solar Electric Supply, Inc. and Tatiana Boronnikova, business manager at A1 SolarStore.

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SunPower is the only solar panel manufacturer on our list that also offers installations. If you are interested in purchasing our other recommended panels, you can get a quote from a certified installer using the panel above.

In addition to having the most efficient solar panels, we found SunPower to be the best overall manufacturer and installer on the list due to its quality of panels offered, cost, and warranties. Compare the efficiency of monocrystalline panels from each manufacturer using the panel below.

*Credit: Scott Williams of Solar Electric Supply, Inc. and Tatiana Boronnikova, Business Manager at A1 SolarStore.

We’ve identified the six most efficient solar panels for residential installations:

With an average efficiency between 18.5% and 22%, Canadian Solar’s panels offer an above-average efficiency at an affordable price of $0.60 to $1 per watt (before installation). Canadian Solar has the lowest starting cost per watt of any panel on our list, making it a great value option that still upholds high quality standards.

Canadian Solar panels are also ideal for colder climates, as they are designed to withstand high winds and snow loads.

Some companies that install Canadian Solar panels include:

Although Panasonic does not sell the most efficient solar panels on the market, it still offers an above-average efficiency of 19% to 21%. It also excels in panel durability and degradation rates, offering an excellent 92% rated power output guarantee after 25 years. Like SunPower, Panasonic offers a comprehensive, 25-year warranty covering equipment, parts and workmanship.

Panasonic’s panels also feature advanced solar cell technology and an aluminum frame to bolster performance in hot temperatures and windy conditions. Panasonic has also extended its product offerings to include aesthetic, all-black panels.

Some solar installation companies that install Panasonic panels include:

Trina Solar is a Chinese-based solar equipment manufacturer that balances value and performance. Its panels offer an efficiency of 18% to 21.6% (comparable to other panels on this list) while maintaining a low cost. Trina Solar offers six residential panel options, so customers can choose their preferred panel size and aesthetics.

As an added benefit, the company increased its solar product warranty from 12 to 25 years in 2021, providing even more value to its customers.

Companies that install Trina Solar panels include:

Silfab solar panels have an average efficiency of 18.9% to 21.4%. Silfab manufactures solar panels with a high-efficiency rating and leading warranties for an industry-average cost. While most solar manufacturers only offer a 25-year or lower power production guarantee, Silfab extends its coverage to 30 years.

Although Silfab is slightly more expensive than solar panels manufactured overseas, its panels are made in North America and hold up well in high-temperature and extreme weather conditions tests. Silfab’s panels also offer a sleek, all-black design that provides superior roof aesthetics.

If you’re interested in Silfab panels, some solar companies that install the brand include:

Qcells offers efficient, durable and affordable panels. With a 19% to 20% average panel efficiency, Qcells panels also perform well in low-light conditions and maintain a low degradation rate.

Qcells has a presence across the globe and is renowned for its research innovations. It recently opened a manufacturing facility in the U.S. city of Dalton, Ga., but is headquartered in Seoul, South Korea and engineers its panels in Germany. It employs over 400 scientists across four countries to develop and test new solar technologies, keeping Qcells at the forefront of new solar breakthroughs.

Several solar companies install Qcell brand panels. Some top providers include:

SunPower sells some of the most efficient solar panels on the market, with an average efficiency between 20.9% and 22.8%. With 30 years of industry experience and a presence in all 50 U.S. states, SunPower is one of the most trusted solar panel manufacturers and installers nationwide. SunPower also offers a comprehensive 25-year warranty on its panels that covers equipment, workmanship and a power production guarantee.

SunPower is a unique solar manufacturing company because it also offers full-service solar installations. However, it is more expensive than most other providers. Sanah Sadaruddi, SunPower’s public relations manager, confirmed that customers pay between $3 and $4.50 per watt for a solar installation with all costs included. Comparatively, the average cost of solar is around $2.85 per watt.

SunPower has certified installers in every state. Fill out this form to find your nearest SunPower installer.

Solar panel efficiency is a measurement — listed as a percentage — that tells you how well each photovoltaic (PV) panel converts sunlight into usable electricity. The higher the efficiency rate, the better the energy production. For example, a solar panel with 16% efficiency will convert 16% of the sun’s energy it absorbs into usable electricity.

Due to many complicated chemical interactions, 100% efficiency is not possible. According to PV magazine, a popular solar energy trade publication, the theoretical maximum efficiency of solar modules is 33.7%. The highest-efficiency panels on the market today have rates between 20% and 22.8%.

According to the National Renewable Energy Laboratory (NREL), solar panel efficiency rates have risen considerably over the last few years. Residential panels previously ranged between 16% and 22% but jumped to 19% to 21% in 2021. The same year, homeowners installed solar panels with a median overall efficiency of 20.1%, considered high-efficiency panels. Solar panel manufacturers with the highest efficiency ratings include SunPower, Silfab and Panasonic.

There are three types of solar panels available to residential customers: monocrystalline, polycrystalline and thin-film. Each panel type has varying advantages, life spans and efficiencies. Here’s a breakdown of each panel type and its pros and cons.

Monocrystalline (mono) panels are the most efficient. Though they cost more than other types, mono panels offer the highest efficiency ratings and best power output. Due to their compact design, they work well on homes with limited roof space. Mono panels are also black, making them blend more easily with your home’s roof.

Polycrystalline (poly) panels are more affordable than mono panels but have lower efficiency rates. To make up for the lower efficiency, you’ll need to install more poly panels to produce equivalent energy. This requires ample roof space. Poly panels work well in colder temperatures but don’t withstand hot conditions as well as mono panels. These panels have a blue hue, making them more noticeable on rooftops.

Thin-film panels are the least efficient solar panel option for homeowners. They work best for projects that don’t require a lot of power, such as a small shed or garage. They’re not recommended for large residential installations with high energy needs. On the plus side, thin-film panel performance isn’t impacted by shading or high temperatures, and they have a sleek appearance.

Monocrystalline solar panels cost more upfront than polycrystalline or thin-film solar panels. However, thanks to their higher efficiency and longer lifespan, monocrystalline solar panels will generate more energy over their lifespan than other types of panels, saving you more in the long run.

*Average cost per watt is based on wholesale prices without installation. Source: A1 Solar Store

In fact, the vast majority of residential solar panel installations today are monocrystalline solar panels. Because monocrystalline solar panels are more efficient than other types of panels, they require less roof space to generate the same amount of energy. The top solar panel brands use monocrystalline panels for their residential solar installations. Most homes don’t have a rooftop large enough to install the number of polycrystalline or thin-film solar panels necessary to power a home. Therefore, polycrystalline and thin-film solar panels are generally more suitable for commercial solar installation.

To help offset the cost of high efficiency solar panels, discover what state, local, and federal solar incentives are offered in your area using the dropdown below:

Two main factors affect the efficiency of solar panels: solar cell efficiency and solar panel structure.

Solar cells are tiny components within a solar panel that help convert sunlight into usable energy, a process known as the photovoltaic effect. The most efficient types of panels, mono and poly, use crystalline silicon solar cells.

Monocrystalline solar panels use solar cells cut from one monocrystalline silicon crystal. Using a whole crystal makes the panel less prone to imperfections and errors, resulting in higher efficiency. However, this production process is more expensive, which is why monocrystalline cells cost more. Polycrystalline panels use multiple silicon crystals, making production more affordable but resulting in lower efficiency.

Simple design elements, such as a solar panel’s wiring, can affect its production. Improper wiring can lead to reduced solar power conversion and lower output.

Proper wiring is also crucial for your system’s inverter. The inverter converts direct current (DC) from the sun into alternating current (AC) that’s used in your home. If the inverter is incompatible with your panels or not properly wired, your energy production will suffer.

Even the backing of solar panels plays a part in energy production. If a panel is too reflective, it won’t convert sunlight properly. Many manufacturers add anti-reflective backing to combat this issue.

Even the most efficient solar panels can be impacted by environmental factors beyond your control. We’ve broken down the key things to look out for below.

Dirty or soiled solar panels will diminish efficiency and power output. Panels naturally accumulate dust, pollen and other debris that lower the amount of sunlight they can capture. Rain storms will clean your panels occasionally, but you may need additional cleaning to maintain optimal performance.

Solar panels operate most efficiently when installed on a south-facing roof. This direction faces the equator for homes in the U.S., allowing for optimal sunlight. East- and west-facing roofs are also viable for solar panels, but they’re less efficient. North-facing roofs are the least efficient and aren’t recommended for rooftop solar panel installations.

Your solar panels’ angle also plays a part in efficiency. The ideal angle is between 30 and 45 degrees. Solar companies commonly use the latitude of your ZIP code or home address to determine your panel angle. The angle may be adjusted based on your location, surroundings and typical weather conditions.

Sunny and unobstructed surroundings are key to your solar system’s efficiency. Shade from nearby trees, buildings and other obstructions will block sunlight to your panels and decrease energy production. Check your surrounding area for any shading across your roof that could impact your efficiency.

Most companies test solar panels in a standard condition of 77 degrees Fahrenheit. However, panels perform at peak efficiency between 59 degrees Fahrenheit and 95 degrees Fahrenheit. Any temperature changes beyond that threshold will affect efficiency.

Solar panel manufacturers will include details about the temperature coefficient with their panels. This measurement, displayed as a percentage per degree Celsius, indicates by what percentage your efficiency will be impacted by each degree over 25 degrees Celsius (or 77 degrees Fahrenheit).

Solar panels perform at optimal efficiency on sunny, cloudless days. Cloudy and low-sun conditions reduce your panels’ ability to collect sunlight. Homeowners in areas with inclement weather, such as northern states, may experience reduced system performance due to snow blocking their panels’ sun exposure. Solar panels are manufactured to withstand hail, but it could still potentially damage your panels and reduce their efficiency. As you shop for providers, ask questions about how weather in your area can impact panel performance.

Solar panel efficiency affects more than your system’s energy production. We’ve highlighted some other ways efficient solar panels can benefit your home below.

Solar panels pay for themselves within six to 10 years on average. The more money you save, the higher your return on investment. A more efficient system will increase your energy savings, leading to better long-term savings and a slightly improved payback period.

The more efficient your panels, the fewer you’ll need to power your home. Choosing a less efficient option, such as polycrystalline panels, means you’ll need more panels to produce your needed power output. This will require more roof space than if you opt for monocrystalline panels.

Yes, there are benefits to using the most efficient solar panels. The efficiency of your solar panels affects the amount of electricity they generate, which is why more efficient solar panels can save you more on utility bills. High-efficiency panels generate more energy with fewer panels, which is especially beneficial to homeowners with limited roof space.

Monocrystalline solar panels are the most efficient, with 15% to 22% real-world efficiency ratings at a higher price range. Polycrystalline panels are more affordable but only provide 12% to 17% efficiency. Monocrystalline panels also have greater durability, lasting up to 40 years.

The typical payback period for solar panels is six to 10 years. Using more efficient solar panels will increase your energy production, reducing your energy bills and creating more long-term savings. Depending on how much savings you generate, your payback period could decrease over time. Additionally, solar incentives like the Federal Solar Tax Credit will further lower the payback period of your solar energy system.

We closely evaluate solar installation companies with a focus on the factors most important to homeowners like you. We based our solar company methodology on input from multiple homeowner surveys, discussions with industry experts and research into the renewable energy market. Our review process involves assessing each company on the following criteria, which we then use to calculate a rating out of 5 stars. Cost and payment options (20 points): Cost is one of the most important factors when installing a solar energy system. Solar providers that offer cash purchases and in-house loan financing earn full points in this category. Companies also receive bonus points for offering solar panel leasing or power purchase agreements (PPAs). Services (20 points): In addition to solar installations, companies offering backup battery and electric vehicle charger installations, energy efficiency audits and system monitoring earn the most points in this category. Companies can also receive points for completing installations in-house, as opposed to using third-party contractors. Reputation (20 points): To assess the reputation of each company, we consider Google star ratings, Better Business Bureau (BBB) scores and reviews, and NABCEP certification status . We also look at customer complaint rates on sites like the BBB and weigh how the company responds. Warranty (15 points): We verify that each company offers workmanship, product and performance warranties on all of its solar installs. A provider earns more points for extending warranties that meet or exceed industry standards, including 10 years for system workmanship and products and 25 years for panel performance. Customer Support (10 points): Solar companies that offer virtual consultations, a mobile app, 24/7 customer support and high customer satisfaction with backend support earn the most points in this category. Industry Experience (10 points): Providers with 10 or more years of experience in the solar installation industry earn a perfect score in this category. Sustainability (5 points):To measure sustainability, we assess each company based on whether it shares a detailed sustainability statement or ESG disclosures on its website. We also conduct research to see if companies offer end-of-life panel disposal programs or have eco-friendly community partnerships.

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