The current situation in the energy market contributes not only to the sales growth of photovoltaic panels (PV) but also to the intense search for possibilities for its improvement. The purpose of this research was to develop a model to determine, where possible, the most beneficial modifications to improve products. The model used combination techniques, i.e., the SMARTER method, brainstorming (BM), the 7 ± 2 rule, questionnaire, ant colony optimization (ACO), and importance-performance analysis (IPA). In addition, an algorithm supporting ACO was proposed in the MATLAB program. The test was carried out on PV and showed that it is possible to determine the way of product (PV) improvement by determining a sequence of modifications for product criteria states while simultaneously considering customers’ expectations. It was shown that each state of the short-circuit electricity and peak power was satisfactory for customers. It was necessary to modify the maximum current and idle voltage. In addition, the selected modification states of the weight and dimensions will be more satisfactory compared to the current states. The proposed model is based on searching for the best changes in product criteria to achieve the highest possible customer satisfaction (i.e., product quality level). Originality is the ability to define a product improvement method (PV) depending on customer expectations but also taking into account the requirements of the company.