Renewable energy sources help in decreasing negative environmental impacts and in reducing energy-import dependency. Among all renewable energy segments, photovoltaic panel (PV) installations are one of the fastest-growing. Growing concern about climate change, as well as public policies promoting the development of PV installations, have changed consumers’ behaviors and attitudes. This study uses the theory of consumption values to identify factors influencing consumers’ choice behavior regarding photovoltaic panel installations. There is little research on consumers’ perception of value related to green energy in Poland, especially in the case of photovoltaic panels. We fill this cognitive gap by testing an extended green consumption values model that includes functional, social, emotional, conditional, epistemic, and environmental values. The research was conducted on 250 Polish consumers using a self-administered questionnaire as the research tool. The results of structural equation modeling showed that only functional value and environmental value had a positive impact on consumers’ choice behavior toward photovoltaic panels. Photovoltaic panel installations are an important investment for Polish households; however, our research results showed that consumers are able to pay for high quality, environmental protection, and future savings. Individuals’ environmentally positive attitude related to environmental concern, environmental knowledge, and responsibility was the strongest determinant of adopting photovoltaic panel installations. New findings concerning Polish consumers’ behaviors can provide references for other countries, especially in Central and Eastern Europe. Our results can be useful for marketing managers and policy marketers in developing strategies concerning the successful promotion of the installation of photovoltaic panels in European countries.