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EnergySage Releases 21st Solar & Storage Marketplace Report
How much do solar panels cost?
The top solar panels available today have efficiencies above 22%.
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Not all solar panels produce the same amount of electricity from sunlight. The difference between an average panel and a highly efficient one can mean fitting a complete solar energy system on a smaller roof—or generating substantially more power from the space you have.
Today, most panels are at least 20% efficient, but the best ones convert over 22% of the sun's energy into electricity. After reviewing hundreds of solar panel models, we found five brands that lead the pack: Maxeon, Qcells, Solarever USA, Canadian Solar, and REC.
The catch? Higher efficiency usually comes with a higher price tag. But depending on your roof's size, shading, and your energy goals, investing in the most efficient panels can pay off in bigger long-term savings. We'll break down which scenarios make premium efficiency worth the extra cost—and when you're better off with a slightly less efficient (but more affordable) option.
Most homeowners save around $50,000 over 25 years
The most efficient solar panel available for homes today is Maxeon’s 440-watt panel at 22.8% efficiency.
Solar panel efficiency is the percentage of incoming sunlight that a single solar panel can convert into electricity.
Maxeon, Qcells, Solarever USA, Canadian Solar, and REC currently offer the most efficient solar panels on EnergySage.
A solar panel's efficiency measures its ability to convert sunlight into usable electricity. If the sun shines on a solar panel with a 20% efficiency rating, 20% of the sun's energy will convert to solar energy in ideal conditions. Given the same amount of sunlight shining simultaneously on two equal-sized solar panels with different efficiency ratings, the more efficient panel will produce more power than the less efficient panel.
Solar panels comprise multiple silicon solar cells, which determine their overall efficiency rating. The structure and type of silicon crystal (generally monocrystalline or polycrystalline), electrical configuration, and surrounding components of the solar cells all influence that number.
Higher-efficiency panels are typically more expensive, but depending on your energy needs and the configuration of your roof, they can be worth it.
1. Maxeon Solar Technologies 440 W
22.8%
$2.84/W
-0.29%/°C
2. Qcells Q.TRON BLK M-G2+ 440W
22.5%
$2.49/W
-0.3%/°C
3. Solarever USA Module HC 96 – 450 W
22.5%
$2.70/W
-0.3%/°C
4. Canadian Solar TOPHiKu6 455 W
22.3%
$2.58/W
-0.29%/°C
5. REC Alpha Pure 410 W Protrust Warranty
22.2%
$2.53/W
-0.26%/°C
Maxeon isn’t just our most efficient panel; it’s our top panel overall. It comes with the highest price tag, but it may be worth it if your roof has limited space or a lot of shading. Otherwise, you may be better off choosing one of the other highly efficient, but more affordable, solar panels on our list.
Our second most efficient solar panel goes to Qcells. While 0.3% less efficient than Maxeon, Qcells gives you a great bang for your buck as the most affordable brand on our list. But it also ties for last place in terms of temperature coefficient—which means its efficiency drops the most at temperatures above 77°F—so if you live in a warmer climate, it might not be your best option.
Coming in third, Solarever USA is pretty middle-of-the pack. It’s tied with Qcells as the second most efficient and highest temperature coefficient panel (lower is better), but it’s a slightly larger panel, offering 450 W of power output. However, it’s the second most expensive panel on our list.
At 22.3% efficiency, Canadian Solar has a slight edge over REC. And it has a slightly lower temperature coefficient than Qcells and Solarever USA. In terms of price, it’s right in the middle: More than Qcells and REC, but less than Maxeon and Solarever USA.
REC may be the least efficient solar panel on our list, but it’s still much higher than the average panel. In addition to its 22.2% efficiency, REC boasts the lowest temperature coefficient of the panels on our list, making it an excellent option for those in warmer climates. While it’s a longtime EnergySage favorite—it’s the most quoted panel brand on our Marketplace—it won’t output quite as much power per square foot as the options above.
The key thing to look for in a panel is the type of solar cells it uses. You want monocrystalline solar cells, which are composed of a single silicon crystal and produce electricity very efficiently.
Solar panels can also have polycrystalline cells made from multiple melted silicon crystals. These panels typically have a lower price tag but are less efficient than monocrystalline cells.
Thin film solar panels are lightweight, flexible, and inexpensive but are the least efficient panel technology. Their versatility makes them great for non-rooftop or DIY applications, such as RVs and smaller appliances.
Learn more about the types of solar panels.
Choosing efficient solar panels is important, but you don't always need to opt for the most efficient model. Here are some scenarios when selecting the most efficient panels makes sense:
Let’s say you want your system to produce as much electricity as possible. Or, maybe you want to buy the least amount of electricity from your utility but have limited roof space. In either of these cases, you should choose the highest-efficiency solar panel.
Highly efficient solar panels tend to cost more than their less efficient counterparts. But, the higher your panel's efficiency, the more electricity you'll produce, and the more you'll save on your electric bills.
To understand the cost-effectiveness of each panel option, calculate whether the increased savings you achieve by generating more electricity over the lifespan of your solar energy system with high-efficiency panels justifies the higher upfront cost.
Let's consider two solar panel systems located in Massachusetts. Both have 20 solar panels of the same physical size. One system has Maxeon’s 440-watt panels with 22.8% efficiency, while the other includes panels with 21% efficiency.
*Based on the median quoted production ratio (1.2)
**Based on EnergySage Marketplace data. Does not include incentives. System 2 cost is based on the average price per watt.
In the example above, after considering your upfront costs and 25-year electric bill savings, the Maxeon system would save you $680 more overall.
The very first solar cells, invented in the 1800s, were less than 1% efficient–not nearly enough to make them useful energy sources. It wasn't until 1954 that Bell Labs invented the first useful silicon solar panel, which was about 6% efficient.
Since then, solar technology has evolved rapidly. Manufacturers have created prototype solar panels that are over 30% efficient, and homeowners on the EnergySage Marketplace regularly receive quotes for solar panels that are 20-22+% efficient.
Solar panels will likely become even more efficient in the coming years. Researchers have achieved 47% efficiency in a lab. However, these super-high-efficiency panels are typically made of more expensive materials that aren't cost-effective for mass adoption—at least not yet.
We've gone over the basics of monocrystalline versus polycrystalline panels and the impact each material design has on efficiency, but there's more than just the structure of your panel that determines how well they can turn sunlight into electricity.
If light reflects away from a solar panel, its efficiency will be lower. Solar cells have an anti-reflection coating, and the glass layer on top of solar panels reduces light reflection.
This one is science-heavy, but bear with us. Light is made of particles called photons, which vibrate at various frequencies. They make up all visible and invisible light emitted from the sun. When light hits the surface of a solar cell, some photons reflect, some pass right through, and some are absorbed, depending on their frequency and wavelength.
Some absorbed light turns into heat, but the remaining photons have the energy to separate electrons from their atomic bonds, producing an electric current. The larger the range of photons (infrared, ultraviolet, and the "visible range") that a solar panel can absorb, the higher its efficiency.
The organization of wires and busbars (wires that connect solar cells) on a solar panel that capture and transfer electricity impacts its efficiency.
Solar panel systems require inverters to convert the direct current (DC) electricity generated by the panels into alternating current (AC) electricity, which powers home appliances. When the inverter makes this conversion, it loses some thermal energy. The higher the losses, the lower the efficiency.
Solar power makes sense for many roofs. However, you’ll lose some efficiency if your panels aren't directly south-facing or if their angle isn't quite right for your latitude.
Depending on the type of inverter you install, a slight shadow on a single panel can lower the system's efficiency. Your installer should consider and mitigate this factor.
Solar panels become less efficient at high temperatures. For every degree above 25° C (or 77° F), their electricity production decreases by their temperature coefficient (shown on their spec sheet). For example, if their temperature coefficient is -0.35%/°C, for every one-degree temperature increase above 25°C (77°F), their electricity production decreases by 0.35%.
Where you live and the weather you experience can impact the efficiency of your solar panels. For example, solar cells stop working when more than five centimeters of snow accumulates on them. Dust and dirt can have a similar impact. Small decreases in efficiency can also occur on particularly windy days.
Most homeowners save around $50,000 over 25 years
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