Solar photovoltaic (PV) panel parameter estimation is vital to manage solar-based microgrid operations, for which several techniques have been developed. Solar cell modeling using metaheuristic algorithms is found to be one of the accurate techniques. However, it requires experimental datasets, which may not be available for most of the industrial modules. Therefore, this study proposed a new model to estimate the solar parameters for two types of PV panels using manufacturer datasheets only. In addition, two optimization techniques called particle swarm optimization (PSO) and genetic algorithm (GA) were also investigated for solving this problem. The predicted results showed that GA is more accurate than PSO, but PSO is faster. The new model was tested under different solar radiation conditions and found to be accurate under all conditions, with an error which varied between 7.6212 × 10−4 under standard testing conditions and 0.0032 at 200 W/m2 solar radiation. Further comparison of the proposed method with other methods in the literature showed its capability to compete with other models despite not using experimental datasets. The study is of significance for the sustainable energy management of newly established commercial PV micro grids.