The aging of PV cells reduces their electrical performance i.e., the parasitic parameters are introduced in the solar panel. The shunt resistance (RSh), series resistance (RS), photo current (IPh), diode current (Id), and diffusion constant (a1) are known as parasitic or extraction parameters. Cracks and hotspots reduce the performance of PV cells and result in poor V–I characteristics. Certain tests are carried out over a long period of time to determine the quality of solar cells; for example, 1000 h of testing is comparable to 20 years of operation. The extraction of solar parameters is important for PV modules. The Tabu Search Optimization (TSO) algorithm is a robust meta-heuristic algorithm that was employed in this study for the extraction of parasitic parameters. Particle Swarm Optimization (PSO) and a Genetic lgorithm (GA), as well as other well-known optimization methods, were used to test the proposed method’s correctness. The other approaches included the lightning search algorithm (LSA), gravitational search algorithm (GSA), and pattern search (PS). It can be concluded that the TSO approach extracts all six parameters in a reasonably short period of time. The work presented in this paper was developed and analyzed using a MATLAB-Simulink software environment.