All PV generated power must be immediately consumed or stored in a battery.
When load on charge controller is less than potential PV array power the charge controller will back down the power taken from panels by allowing panel voltage to rise in the direction of Voc. When at Voc, there is zero power taken from PV panels.
As PV voltage is allowed to rise above Vmp, more and more of the illumination generated current is shunted across PV cells' inherent diode. The closer the panel voltage gets to Voc, the less the extracted PV array current to charge controller. PV power is consumed as a small amount of extra heating of panels.
Because PV panels are approximately 20% max efficient for electrical conversion, at full re-absorption (Voc) there is about 20% more heating of panels. This is not damaging to panels and does on increase panel temperature very much over what it normally gets to from sun heating.
For reference, Vmp is normally about 81% to 85% of Voc for silicon PV panels. At low illumination levels, shunt resistance of PV cells starts to consume a greater amount of any illumination generated current.