Abstarct: The use of photovoltaic panels to generate electricity in the world is growing. Due to the fact that their efficiency decreases with increasing temperature, so as to improve the efficiency of these systems, the temperature of photovoltaic cells should be reduced as much as possible. For cooling photovoltaic panels, methods such as spraying water on the panel, using fluids such as circulating water behind the panel, using natural and forced air movement, phase change materials, Nanofluids, immersion in water, using thermoelectric and etc. has been suggested and sometimes implemented. In this research, a comprehensive practical and theoretical study on the application of thermoelectric technology in the cooling of photovoltaic panels has been done. In order to evaluate the use of thermoelectric and its combination with the photovoltaic panels, various methods such as using TEC directly behind the panel, using TEC and TEG attached to each other, using TEG without and with cooling by air, and cooling with water were evaluated. The general results showed that with a general view of the complex and considering the electrical consumption of TEC and thermoelectric cooling fans, the use of the mentioned methods is not justified from the energy point of view except for the last case (water cooling). Therefore, the design of thermoelectric combination with cold water thermal photovoltaic panel (PVT-TEG) was selected as the final option for theoretical and practical evaluation. Modeling of this system includes components such as solar radiation intensity, simple photovoltaic panel, and thermoelectric. In order to increase the reliability of the model, at first, according to the facilities available in the laboratory, the validation of these components was done with experimental data. The final mathematical model was prepared baxsed on the design for the PVT-TEG system. Simultaneously, the construction and installation of the laboratory device and then tests were performed from February to September 2020 in the energy laboratory of Shahrood University of Technology. By placing a simple photovoltaic panel next to the main panel, the performance of the two was compared in the same environmental conditions. The model was validated with experimental data with an error of less than 18%. Electricity production in the PVT-TEG panel increased by about 8.5% compared to the simple panel. Power generation by thermoelectric has a small share of the total production power of the panel and therefore a more accurate economic assessment will be necessary for the application of this system in commercial mode. Finally, the parametric analysis of the final model was performed, the results of which predict an overall efficiency of about 70% for the hybrid PVT-TEG panel.