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Homeowners should also be aware that the size of the solar panel system needed depends largely on their energy consumption. The more energy a household uses, the larger the system typically required, leading to increased upfront costs. Conducting an energy audit can help homeowners determine their energy needs, allowing them to select the appropriate system size.

However, many utility companies in the U.S. have introduced pricing schemes that allow homeowners to be charged at different rates throughout the day to mirror the actual cost of electricity production at different times. This can mean higher rates in the afternoon and lower rates at night. A PV solar array may be beneficial in areas where this time-variable rate is used, since the solar power produced would offset the most costly electricity.20

In conclusion, understanding solar panel efficiency is essential for anyone looking to harness solar energy effectively. By considering factors such as material composition, temperature effects, installation orientation, and ongoing innovations, individuals and businesses can maximize their solar investments. As the world moves towards cleaner energy solutions, advancements in solar panel efficiency will play a pivotal role in shaping a sustainable future.

What Is Solar Energy?