The technological, economic, and environmental benefits of photovoltaic (PV) systems have led to their widespread adoption in recent years as a source of electricity generation. However, precisely identifying a PV system's maximum power point (MPP) under normal and shaded weather conditions is crucial to conserving the maximum generated power. One of the biggest concerns with a PV system is the existence of partial shading, which produces multiple peaks in the P–V characteristic curve. In these circumstances, classical maximum power point tracking (MPPT) approaches are prone to getting stuck on local peaks and failing to follow the global maximum power point (GMPP). To overcome such obstacles, a new Lyapunov-based Robust Model Reference Adaptive Controller (LRMRAC) is designed and implemented to reach GMPP rapidly and ripple-free. The proposed controller also achieves MPP accurately under slow, abrupt and rapid changes in radiation, temperature and load profile. Simulation and OPAL-RT real-time simulators in various scenarios are performed to verify the superiority of the proposed approach over the other state-of-the-art methods, i.e., ANFIS, INC, VSPO, and P&O. MPP and GMPP are accomplished in less than 3.8 ms and 10 ms, respectively. Based on the results presented, the LRMRAC controller appears to be a promising technique for MPPT in a PV system.