Abstract Photovoltaic (PV) panel temperature was evaluated by developing theoretical models that are feasible to be used in realistic scenarios. Effects of solar irradiance, wind speed and ambient temperature on the PV panel temperature were studied. The parametric study shows significant influence of solar irradiance and wind speed on the PV panel temperature. With an increase of ambient temperature, the temperature rise of solar cells is reduced. The characteristics of panel temperature in realistic scenarios were analyzed. In steady weather conditions, the thermal response time of a solar cell with a Si thickness of 100–500 μm is around 50–250 s. While in realistic scenarios, the panel temperature variation in a day is different from that in steady weather conditions due to the effect of thermal hysteresis. The heating effect on the photovoltaic efficiency was assessed based on real-time temperature measurement of solar cells in realistic weather conditions. For solar cells with a temperature coefficient in the range of −0.21%∼−0.50%, the current field tests indicated an approximate efficiency loss between 2.9% and 9.0%.