Abstract: A concrete panel system comprising a plurality of concrete panels arranged in side-by-side fashion on a substantially vertical supporting wall, each of the panels comprising a rectangular body having a front surface and a rear surface and beveled side edges, the side edges each forming an angle of between eighty-five and ninety degrees with the rear surface, and a concave caulking groove lying between and connecting each of the beveled side edges with the front face, the side edges of adjacent panels forming a V-joint between the adjacent panels, a flexible sealant material in a portion of the caulking grooves of adjacent panels and a portion of the V-joint for providing a seal between adjacent panels, and a hanger element embedded in the rear of the panels for securing the panels to the supporting wall.