Over the years, the contribution of photovoltaic energy to an eco-friendly world is continually increasing. Photovoltaic (PV) cells are commonly modelled as circuits, so finding the appropriate circuit model parameters of PV cells is crucial for performance evaluation, control, efficiency computations and maximum power point tracking of solar PV systems. The problem of finding circuit model of solar PV cells is referred to as “PV cell equivalent model problem”. In this paper, the existing research works on PV cell model parameter estimation problem are classified according to error quali-quantitative analysis, number of parameters, translation equations and PV technology. The existent models were discussed pointing out its different levels of approximation. A qualitative comparative ranking was made and four models were found to be the best ones for simulating PV cells. Besides, based on the conducted review, some recommendations for future research are provided.