With the proliferation of solar energy technology, the industry veterans are reaping benefits of the solar panel efficiency in 2018. The solar panel efficiency is determined by the amount of energy produced from sunlight. Greater the solar panel efficiency, more the solar electricity produced by the panels within a given area. However, efficiency is critical if the space for panels is limited. For instance, if a proprietor wants to generate power for domestic purposes, then space constraints can be a challenge.
SunPower, Panasonic, and LG are among the most energy-efficient solar panel manufacturers available in the market today. While SunPower has an average efficiency of 22.2 percent, Panasonic, and LG have 20.3 percent and 20.1 percent respectively. Besides, these three solar panel manufacturers offer a 25-year warranty.
On an average, most solar panel manufacturers have efficiency of 15 and 18 percent. The solar cells were first built in the 1800s which had an efficiency of less than 1 percent. Later in the 1950s, a solar panel was produced by Bell Labs that had an efficiency of 6 percent. With the advent of technology, today solar panels that are 40 percent efficient are used in space applications. However, such solar panels often contain expensive materials and are not reasonable for residential solar applications.
It is essential to note that even though solar panel efficiency is a vital factor, it is not the only factor to be considered while looking for solar applications. The extra cost of highly-efficient solar panels may not be acceptable for many solar projects, especially if there is abundant space.
Today, people looking for solar applications have numerous options to choose from. Nowadays, more than 100 different varieties of solar panel are available in the market. Besides efficiency, other important factors to be considered selecting a solar panel are cost, durability, value, solar panel warranties, and aesthetics.