AbstractIEC 60891 ed.3 published in 2021 has defined four standard I‐V characteristics correction procedures numbered 1 through 4. The aim of this work is to evaluate these four I‐V translation methods. The results show that correction procedure 1 (CP1) and 2 (CP2) work well over a broad range of irradiances and temperatures. However, CP1 requires I‐V curves being measured adequately down to negative current regime at low‐irradiance levels and CP2 is not so suitable for low shunt‐resistance modules; both also require a set of correction parameters. Based on our performance analysis, a new method based on CP2 is introduced to improve the correction performance for low shunt‐resistance modules; the mean bias error (MBE) value of maximum power (PMAX) improved from −10.26% to −1.32%. Correction procedure 3 (CP3) employs a drastically different correction procedure as compared with the other CPs. This work shows that CP3 works well over a broad range of irradiances and temperatures, but significant distortion of the corrected I‐V curves may occur when extrapolation is required. Correction procedure 4 (CP4) requires only a single I‐V curve and shows generally good results in short‐circuit current (ISC) but worse agreement in open‐circuit voltage (VOC) and PMAX.