There are three main types of solar panels available in the Indian market: polycrystalline, monocrystalline, and bifacial. Polycrystalline panels have lower efficiency and price due to a simpler manufacturing process involving combining silicon crystal fragments. Monocrystalline panels have higher efficiency but also higher cost as they use a more complex process involving single silicon crystals. Bifacial panels have the highest efficiency as they can generate power from both sides, but are also the most expensive.