The solar photovoltaic (PV) energy generation technology has grown rapidly. Herein, a novel continuous‐time Lyapunov‐based model reference adaptive control (LB‐MRAC) technique is suggested for determining the duty cycle of boost converter to maintain maximum power point (MPP) of the solar PV panel. For ensuring the fast‐tracking speed, the reference voltage of, respectively, MPP is calculated using perturb and observe (PO) and input to the MRAC technique. Using MATLAB/Simulink, the performances of the LB‐MRAC maximum power point tracking are comparatively analyzed with PO, incremental conductance, and adaptive neuro‐fuzzy inference system under diverse testing modes such as stand‐alone, partial shading, grid integrated, and real time. The proposed technique tracks MPP in just 3.7 ms having tracking efficacy between 99.15% and 99.59% under highly fluctuating irradiance and temperature with load uncertainties. In partial shading mode, four patterns (3 × 1 PV string) are devised and determined where that the suggested approach monitors the global MPP in merely 0.04 s with the highest power tracked and the least amount of shading loss. Next, the efficacy is checked in a three‐phase 50 kW grid‐integrated mode under realistic weather. Finally, the performance of the suggested continuous‐time LB‐MRAC technique is experimentally corroborated employing OPAL‐RT(OP4510) in the real‐time mode.