Determining the best solar panel system to install in your home is always influenced by costs and energy efficiency. There are three major types of solar panels. Monocrystalline is the oldest type of solar panel which is made up of more than 40 solar cells. Traditional solar panels were made of silicon that facilitated the conversion of energy. These solar panels are also made of silicon which interacts with the sun and leads to the conversion of energy. Secondly, we have polycrystalline which is on the rise due to its efficiency. It is also made of silicon. Lastly, we have the new development that is made of silicon and they are thin in appearance and are referred to as a thin-film solar panel.