Not entirely. The efficiency degrades due to the exposure to the sun but it is not a lot. The example given at the site linked below is a 21 year old panel that has degraded 3 watts, from 22 to 19. This is natural and unavoidable. There are however other damage that might be repairable that also decreases efficiency such as broken glass, loose connections, or burned-out bypass diodes. The link below is a buying guide for used panels and also has a link to a guide to repairing some of these problems.
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