How efficient are solar panels? Top brands compared in 2024

Solar technology has made leaps and bounds toward higher efficiency. Just five years ago, the average solar panel efficiency in quotes through EnergySage was 19%. In 2024, the average efficiency is about 21.4%, which translates to 10% more electricity produced per panel. 

Within those averages, you'll find solar panels with a range of efficiency ratings. It might not surprise you that you'll usually pay more for solar panels with greater efficiency. SunPower, one of the better-known solar panel brands, offers the most efficient and most expensive solar panels for homes at 22.8% efficiency. Other brands like REC, Panasonic, Maxeon, Jinko Solar, and Q CELLS aren't too far off with above 22% efficiency. 

We'll help you decide if the highest-efficiency solar panels are worth it for you, and offer some advice on how to keep your panels producing electricity as efficiently as possible.

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 are made of up multiple silicon solar cells, which, combined, determine a panel's 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. 

Today, about 95% of solar panels quoted on EnergySage are between 19.7% and 21.6% efficient. Higher-efficiency panels are typically more expensive, but they can be worth it depending on your energy needs and the configuration of your roof.

SunPower offers the most efficient solar panels for homes today at 22.8% efficiency. They come with the highest price tag but can 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. 

The most efficient solar panel brands, compared

*Prices reflect the average quoted price range of a roughly 11 kW solar panel installation, including installation costs, after accounting for the 30% federal tax credit incentive.

1. SunPower

• Model: M series SPR-M440-H-AC 440 W

• Efficiency: 22.8%

SunPower

2. QCELLS

• Model: Q CELLS Q.TRON BLK M-G2+ 440W

• Efficiency: 22.5%

QCELLS

3. REC Group

• Model: Alpha Pure 410 W

• Efficiency: 22.2%

GRID Solar and Electric via REC Group 

4. Maxeon Solar Technologies

• Model: Maxeon 3 BLK-R 420 W

• Efficiency: 22.2%

Maxeon Solar Technologies

5. Panasonic

• Model: EverVolt HK Black Series 410 W

• Efficiency: 22.2%

Panasonic

It's important to choose efficient solar panels, but you don't always need to choose the most efficient model. Here are some scenarios when selecting the most efficient panels makes sense:

1. You want to maximize your solar production

You may want your system to produce as much electricity as possible. Or, you might 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.

2. Higher-efficiency solar panels will save you money

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. 

You need to calculate if 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 SunPower's M-Series 440 W panels with 22.8% efficiency, while the other includes panels with 21% efficiency.

Solar savings with high-efficiency panels

*Based on an EnergySage Marketplace average cost per watt of $2.75/W.

**Based on EIA electricity data from April 2024.

In the example above, after considering your upfront costs and your 25-year electric bill savings, you'd save $1,423 more overall with the SunPower system over 25 years.

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.

Remember, solar panel efficiency isn't the only significant factor to consider in your solar panel decision. On the EnergySage Marketplace, you can compare solar panels based on multiple factors, including, efficiency, power output, warranty, and price to go solar with confidence. Sign up for free today to connect with your own Energy Advisor, who can help you find the best solar panels for your home.