The winger has been an ever-present for Wolves since sealing his loan switch to Molineux, making six appearances.
But Solbakken's men have been winless in that time, slipping to 15th in the Championship table, and the Norwegian manager has made it clear that Pennant is not guaranteed a place in his first team.
He said: "He's going in the right direction but he must also be aware some games will be for him and some maybe won't.
"He came here not having played in the Championship for a long time. He played three games quite quickly and maybe he's struggling with a lack of match rhythm, and it's not easy to come in when there are big expectations.
Solbakken added: "He doesn't cover as much grass as some. But he's had some good moments."