At planetary scale it seems to be quite important not having to replace the whole fleet every few years don‘t you think? Just from a resource perspective this planet shouldn‘t drown in defunct solar panels.
Luckily, they are made of just a few basic, very recyclable chemical elements. Aluminium is fully recyclable. Glass is fully recyclable. Silicon gets purified as part of its manufacturing process. And that just leaves the plastic backing.
Output degrades at about ~1% a year. EOL for a solar panel is typically about 30 years. It will still generate power but if it is a commercial operation then it will likely be in consideration for replacement. I imagine there would be a large secondary market in the future for used but still functional solar panels as utilities and smaller solar farms replace the panels and possibly funneling into the residential market.
And I say it as someone who's researched them at EPFL in Michael Graetzel's laboratory.
I don't think the technology will ever be efficient and most importantly stable as needed.