This review paper provides a comprehensive analysis of photovoltaic (PV) modeling, focusing on the I–V characteristic curve of PV panels. The paper discusses three main categories of PV models: circuit-based, analytical-based, and empirical-based. Circuit-based models, such as single-diode, double-diode, and triple-diode models, are derived from the physical behavior of PV panels and are used to simulate their electrical characteristics. Analytical-based models simplify the complex equations of circuit-based models, while empirical-based models use curve-fitting techniques to approximate the I–V curve based on observed data. The paper evaluates the accuracy of these models according to the IEC EN 50530 standard, which requires that the absolute error in the power output within the vicinity of the maximum power point (MPP) should not exceed 1%. The study compares the performance of various PV models, including approximate models such as Padé approximant, Taylor series expansion, and two-parameter models, against empirical-based models. The results show that empirical-based models generally achieve higher accuracy near the MPP, as they are not dependent on the physical parameters of the PV panel. The paper also highlights the limitations of existing PV models and suggests future research directions, emphasizing the need for more accurate parameter estimation techniques and the development of hybrid models that combine the strengths of circuit-based and empirical-based approaches. Overall, the review underscores the importance of accurate PV modeling in achieving sustainable energy systems and improving the efficiency of solar energy conversion.This review paper provides a comprehensive analysis of photovoltaic (PV) modeling, focusing on the I–V characteristic curve of PV panels. The paper discusses three main categories of PV models: circuit-based, analytical-based, and empirical-based. Circuit-based models, such as single-diode, double-diode, and triple-diode models, are derived from the physical behavior of PV panels and are used to simulate their electrical characteristics. Analytical-based models simplify the complex equations of circuit-based models, while empirical-based models use curve-fitting techniques to approximate the I–V curve based on observed data. The paper evaluates the accuracy of these models according to the IEC EN 50530 standard, which requires that the absolute error in the power output within the vicinity of the maximum power point (MPP) should not exceed 1%. The study compares the performance of various PV models, including approximate models such as Padé approximant, Taylor series expansion, and two-parameter models, against empirical-based models. The results show that empirical-based models generally achieve higher accuracy near the MPP, as they are not dependent on the physical parameters of the PV panel. The paper also highlights the limitations of existing PV models and suggests future research directions, emphasizing the need for more accurate parameter estimation techniques and the development of hybrid models that combine the strengths of circuit-based and empirical-based approaches. Overall, the review underscores the importance of accurate PV modeling in achieving sustainable energy systems and improving the efficiency of solar energy conversion.