This paper reviews various cooling techniques for enhancing the efficiency of photovoltaic (PV) panels, focusing on water-based, air-based, and phase-change material (PCM) methods, as well as novel cooling approaches. The study assesses the environmental and economic impacts of these cooling methods, highlighting their potential to improve PV panel performance. Thermoelectric cooling is identified as a promising solution, demonstrating significant improvements in energy efficiency and environmental sustainability while maintaining economic viability. The research contributes to the ongoing efforts to identify effective cooling strategies, advancing electricity generation from PV panels and promoting sustainable energy systems. Key findings include the effectiveness of hybrid systems, thermoelectric cooling, phase-change materials, and nano-based cooling methods in improving PV performance. The study emphasizes the importance of cooling methods in enhancing the sustainability and efficiency of PV systems, with notable advancements in electrical and thermal efficiency. The review also discusses future recommendations, such as long-term studies and the development of highly conductive PCM, to further optimize cooling strategies for PV panels.This paper reviews various cooling techniques for enhancing the efficiency of photovoltaic (PV) panels, focusing on water-based, air-based, and phase-change material (PCM) methods, as well as novel cooling approaches. The study assesses the environmental and economic impacts of these cooling methods, highlighting their potential to improve PV panel performance. Thermoelectric cooling is identified as a promising solution, demonstrating significant improvements in energy efficiency and environmental sustainability while maintaining economic viability. The research contributes to the ongoing efforts to identify effective cooling strategies, advancing electricity generation from PV panels and promoting sustainable energy systems. Key findings include the effectiveness of hybrid systems, thermoelectric cooling, phase-change materials, and nano-based cooling methods in improving PV performance. The study emphasizes the importance of cooling methods in enhancing the sustainability and efficiency of PV systems, with notable advancements in electrical and thermal efficiency. The review also discusses future recommendations, such as long-term studies and the development of highly conductive PCM, to further optimize cooling strategies for PV panels.