Final answer:
Photovoltaic cells convert light energy into electrical energy using the photoelectric effect. Engineers aim to improve efficiency through material research and refining energy transfer methods. The current efficiency of commercial silicon-based PV panels is around 15-20%.
Step-by-step explanation:
Photovoltaic cells are devices that convert light energy into electrical energy using the photoelectric effect. The efficiency of photovoltaic cells is determined by the laws of physics and the properties of the materials used. Engineers involved in photovoltaic research aim to improve the efficiency of solar energy conversion by experimenting with new materials and refining energy transfer methods. While there are limitations to the efficacy of solar power due to factors like cloud cover and the availability of rare-earth minerals, the current efficiency of commercial silicon-based PV panels is around 15-20%, which is close to the theoretical maximum.