As of 2024, the world record for solar cell efficiency was 47. 6%, set in May 2022 by Fraunhofer ISE, with a III-V four-junction concentrating photovoltaic (CPV) cell. Due to the many advances in photovoltaic technology over the last decade, the average panel conversion efficiency has increased from 15% to over 24%. Solar-cell efficiency is the portion of energy in sunlight that is converted into electricity by a solar cell. For example, a solar panel with 20% efficiency and an area of 1 m 2 produces 200 kWh/yr. NLR maintains a chart of the highest confirmed conversion efficiencies for research cells for a range of photovoltaic technologies, plotted from 1976 to the present. Or download the. Efficiency Plateau Reached: The top solar panels in 2025 have reached 24. After reviewing hundreds of solar panel models, we found five brands that lead the pack: CW Energy, Maxeon, Qcells, SEG Solar, Silfab, and CertainTeed.