That's bad
When I was busy with solar panels some years ago the efficiency was around 10 to 12% for cristaline cells and around 8 to 9% for thin film cells.
That is what they meant. They are 80% efficent as compared to todays solar panels.
The sun beats out thousands of watts of power per meter (I think around 2000 watts it was), so to capture 5% of it that would be 100 watts. 10% is 200watts. 80% is 1600 wattts. Thats alot of POWER!!!
NOTE: The wattage would be for a meter squared solar panel, so one meter by one meter to get these wattages.
Since insolation is different for all locations on the planet, the nominal power of a solar panel is given for a 1000W/m² insolation perpendicular to the panel.
That sunpower you will get on the equator at noon