Mostly correct; the issue with UV is that photons are powerful enough to induce permanent defects, so for outdoor solar cells a UV filter is usually installed, that blocks some photons, yeah, with obvious downsides. Eventually though it degrades too. So efficiency goes down to certain percentage and then practically it just keeps going unless structural damage occurs, like something falling on a panel and breaking it - quite common event at this long lifetime.

also thermal photons that do not get absorbed in state transition could be absorbed by thermal phonons and electrons of comparable energy just heating the panel up. They only go through cold silicon.