Solar panels work by converting sunlight into electricity. But there are no panels available which convert 100% of the light they receive into power. The measure of how much sunlight is converted into electricity by solar PV panels is known as their efficiency.
Solar technology has come a long way in recent years, and one way that is readily apparent is in the improvement in the efficiency of solar panels. The highest grade of panels which are commonly used can now reach efficiencies of up to 23%.
There are many factors which affect the efficiency of solar panels such as the type of materials they are made from, your local climate, and the location of your home or business.
Depending on a number of factors, the efficiency of solar panels used in most homes and businesses will tend to range in efficiency somewhere between 15% – 23%.