Let's say you mean constant V when you say normal regulator. The V set point can be adjusted to be optimum at noon on bright days. But you want the panels to generate throughout the day. The noontime setting can be very non-optimum when the sun is low in the sky in morning and afternoon.
But yes, it is also true that the cost of MPPT is low compared to the cost of "smart" 3 stage battery charge controllers.
Friends who had solar on their boats and later upgraded to a MPPT controller, report that their batteries are fully recharged by 10:30AM, rather than 2PM with non-MPPT controllers. One friend even added a 2nd refrigerator to his boat without changing the panels because of MPPT.
But to really get the maximum, you need to use MPPT,
plus 2-axis tracking.
I once
posted the following from a friend's installation (on land at 45 degrees north). Note how "square" his power-versus-time curve (green) looks compared to the typical sine curve for a "normal" fixed-orientation installation. We can even see a difference between morning and afternoon. That is because trees block more of his western sky than eastern sky.
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