The main reason is that for Solar Technology(like any other) to be more efficient, more money is needed to produce higher quality Solar Panels, and is thus not useful for low-cost mass production. Thus, the only way to get around it is through researching and making advances in Solar Technology.
As of now, energy conversion efficiency for Solar Panels has reached a max of 25%, while regular industrial cells reach between 15-18%, with the exception of higher efficiency cells reaching 20% or more. To achieve this, current technologies which could lead to higher productivity are being reviewed.
The materials used for crystalline solar cells, mainly silicon, are environmental friendly and due to being 60 years in development, is the most common solar cell, making up 90% of solar cells developed in 2008. With silicon being environmentally friendly, as well as making up 26% of the Earth’s crust, makes it a very suitable for worldwide production, the only drawback being that silicon crystals taking a long time to develop.
Other advances in Solar Technology also involve using cheaper materials as well as cutting the cost of high-purity crystalline silicon substrates which are expensive, as well as reviewing past models.
Mono-Crystalline and Poly-Crystalline Solar
Mono-Crystalline and Poly-Crystalline solar panels are made of different silicon substrates, the former being made from pseudo-square silicon wafer substrates, while the other is made from square silicon substrates, despite being different, Both have highly-phosphorus doped n+(electron producing) regions on the front surface of boron-doped p-type electron accepting substrates. These silicon substances are the reason for the improvement in performance in Solar Cells, as it is also able to be used as an anti-reflective coating, boosting the efficiency of Solar Cells. Despite both being made from silicon, in typical commercial use, Mono-Crystalline Solar Cells are at an efficiency rate of between 16-18%, while Poly-Crystalline Solar Cells being 15-17%. Despite this high efficiency, it is reduced however when solar cells are placed together by modules by about 2%, due to being laminated on a front glass panel with ethylene vinyl acetate. Below is a picture showing the basic structure of both cells.

Next will be the steps in Solar Cell Production, below is an image illustrating this.

As can be seen, the development of solar cells is long and expensive. The price of silicon varies in depending on market price of poly-silicon, which are also factored in as a cost of solar cell production.
The main aims of the Photovoltaic(PV) Industry will be to reduce the electricity generation cost of solar panels, as well as increase the efficiency of solar panels to meet the demands of electricity, and this also effects the value-chain cost of producing solar cells, which are already expensive to begin with. The efficiency of these cells are limited by 3 loss mechanisms, mainly surface reflection, silicon bulk transmission and back surface absorption. In the development of solar cells, these losses are minimized, but these however continue to affect the efficiency of solar cells. To achieve efficiencies of above 20%, companies minimize photon, carrier and electrical loss. These affect the efficiency of solar cells, which companies are striving to produce, but are however limited by the economy and cost of such productions, and have only made attempts in introducing these high-quality features.
Also, Mono-crystalline solar cells, despite improving to be better than their counterparts, face the problem of light-induced degradation, including permanent deactivation of the product at temperatures above 170 degrees Celsius. Attempts to eliminate light-induced degradation are seen, and gallium-doped CZ wafers are free of light-induced degradation, and are a viable solution to eliminate this problem.
Poly-crystalline solar cells, despite having a lower efficiency, make up for it in modules, where they have a better packing factor due to their square shape, making its efficiency on par to Mono-crystalline solar cells. However, future research determines that this gap will widen in the future as Solar Technology advances, due to the difference in quality of Poly-crystalline structures as compared to their Mono-crystalline counterparts. With a 4.7% difference between the greatest efficiency of Mono-crystalline solar cells, being at 25%, compared to Poly-crystalline solar cells, at 20.3% efficiency, with high-quality systems reducing photon, carrier and electricity loss for both.