What does "energy conversion efficiency" mean?

Energy conversion efficiency is an expression of the amount of energy produced in proportion to the amount of energy consumed, or available to a device. The sun produces a lot of energy in a wide light spectrum, but we have so far learned to capture only small portions of that spectrum and convert them to electricity using photovoltaics. So, today's commercial PV systems are about 7% to 17% efficient, which might seem low. And many PV systems degrade a little bit (lose efficiency) each year upon prolonged exposure to sunlight. For comparison, a typical fossil fuel generator has an efficiency of about 28%. (from EERE.gov)

What does "energy conversion efficiency" mean?

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