In　this　study,　an　experimental　setup　consisting　of　a　photovoltaic　thermal　collector　integrated　with　a　thermoelectric　module　was　fabricated　and　its　efficacy　was　tested.　Five　various　cooling　approaches　were　utilized　in　the　hybrid　photovoltaic　thermal/thermoelectric　system.　The　considered　coolants　were　water,　air,　and　two　different　types　of　nanofluids　including　SiO2-water　and　Fe3O4-water.　Energy,　exergy　and　environmental　analyses　carried　out　using　the　experimental　data　to　evaluate　the　influence　of　coolant　type　on　the　performance　of　hybrid　system.　Different　parameters　such　as　the　inlet/outlet　temperature　of　coolants,　the　ambient　temperature　and　the　surface　temperature　of　the　unit　were　measured　during　experimental　tests.　According　to　the　results,　SiO2-water　nanofluid　was　the　best　coolant　that　yielded　the　maximum　energy　efficiency　at　the　fixed　irradiation　of　900　W/m(2).　It　was　found　that　the　exergy　efficiency　is　increased　by　using　nanofluids.　Application　of　natural　cooling　with　air　resulted　in　the　lowest　power　generation,　carbon　mitigated,　and　carbon　credits.　Consequently,　the　application　of　nanofluids　is　recommended　for　increasing　power　generation,　carbon　mitigated,　and　carbon　credits　of　the　photovoltaic　thermal/thermoelectric　system.