> Panels commonly run at 12V (or some low multiple thereof),
That is absolutely not true. Generally speaking nontrivial sized photovoltaic systems are designed with panels in series such that the voltage stays just barely within the 600v rating on the wire.
For example, grid tie inverter, MPPT rated 195-550v:
http://pdf.wholesalesolar.com/inverter%20pdf%20folder/Schnei...