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The Five Best Solar Panel Companies Based on Efficiency

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Installing solar panels is the same as making an investment. You're paying money for a resource that will give you a return on your investment. How much of a return depends upon the quality and efficiency of the panels that you buy. Not all solar panel brands are created equally, and the efficiency ratings can vary from one system to another. This is why it's a good idea to research the company and the products they offer before making a commitment to purchase solar panels from them. We've done the research and here are the five best solar panel companies based on efficiency.

5. Canadian Solar Panels - Efficiency rating: 18.33%

Canadian is a company which offers its Solar Dymond series of solar panels. The panels are rated as being of very good quality. They're a monocrystalline system with an energy efficiency rating of 18.33%, but it's not the best when it comes to the amount of power output because as the temperature rises, the output falls with a temperature coefficient of -0.39 percent. In spite of this fact, Canadian have made it to the top five solar panel companies because of the value that they offer along with their stellar manufacturing reputation. Canadian solar panels have an efficiency rating that falls just a few tenths of a percentage point below the next best company on our list.

4. SunLux Energy - Efficiency rating: 18.8%

The fourth-best solar panel company based upon energy efficiency is SunLux Energy. The company has been in business for more than two decades. It tops Canadian by a mere 0.47 percent, meaning that it's a close win. When it comes to SunLux, the company maintains a focus is upon assisting customers in saving money by determining the energy needs of the property first, evaluating the site, and determining the best solar panels for the site. The solar panels used are Monocrystalline with an efficiency rate of 18.8%. The price range is between $24,900 to $35,000. The systems are installed with a 25-year warranty including coverage of the physical components of the solar system as well as maintenance, repairs and replacement parts. SunLux is a solid brand that has established a good reputation for quality in both products and services. SunLux offers a fairly comprehensive range of services to help ensure that customers receive full service and satisfaction from their engagement with the company.

3. Vivint Solar - Efficiency rating: 15 to 22%

Vivint Solar is among the best for energy innovation, but when it comes to the efficiency rating their solar panels run as low as 15 percent efficiency all the way up to 22 percent... The company provides a line of Monocrystalline Silicon PERC type solar panels The price is $28,250. Vivint Solar offers solar panels, solar batteries, chargers and smart home apps. They're located in 22 states offering residential solar panels with financing options, leases, and solar power purchase agreements. Included with the installation of the system is maintenance, monitoring along with a 25-year warranty. Vivint Solar is a winner of the BIG Innovation award for 2016. Vivint Solar could go either way coming in at either 3rd or 4th, but we kicked it up a notch because of the high end of the efficiency rating. While we're not overly impressed with the 15%, on the high end of the spectrum, there's nothing wrong with a 22% efficiency rating.

2. LG Solar - Efficiency rating: 18.8-20.8%

LG Solar is the second-best solar panel company with an average efficiency rating of 18.8%. The company has produced a new product called the LG NeOn R panel which has been rated at an efficiency of up to 20.8 percent, which shows that the engineers are making strides in improving the products. As of 2019, the most efficient panels which are offered are just under 21%. LG Solar comes in second place in the efficiency scores only to our number one rated company.

1. SunPower - Efficiency rating 24.1%

Sun Power is the number one best solar panel company if you're in the market for the highest efficiency rating. Their panels have consistently ranked high on this measure, and the average efficiency ratings have been in the area of 20.6 percent, however, they offer new and innovative panels that have achieved a new record hitting the efficiency rating mark of 24.1 percent. If you're looking for the highest possible efficiency rating on the market today, then SunPower is the best choice.

Final thoughts

Going with solar panels can make a tremendous difference in conserving energy and contributing to the reduction and waste which has become a problem throughout the world. Converting the sun's natural energy into usable power will reduce utility bills although it does require a significant upfront investment for the installation. All of the companies listed on our top 5 list offer convenient financing and payment plans to help ease the pinch of the cost of solar panel installation. Each offers a generous warranty program that guarantees maintenance, repairs, and replacement of components should there be a failure prior to the end of the warranty period, which is 25 years. If you're considering the installation of solar panels for your residence, and you are the most concerned about the efficiency rating, these are the five companies that come most highly recommended. Ther are solar energy companies out there that offer less expensive options, but as with any product and/or service, in most cases, you get what you pay for. Going with the least expensive options often means sacrificing some of the benefits offered by companies offering higher efficiency ratings and better warranty programs.

Garrett Parker

Written by Garrett Parker

Garrett by trade is a personal finance freelance writer and journalist. With over 10 years experience he's covered businesses, CEOs, and investments. However he does like to take on other topics involving some of his personal interests like automobiles, future technologies, and anything else that could change the world.

Read more posts by Garrett Parker

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