Nowadays,　photovoltaic　panels　have　been　known　as　effective　devices　to　harness　solar　energy.　These　panels　mainly　convert　the　UV　and　visible　areas　of　the　solar　spectrum　into　electricity　and　the　rest　of　the　energy　is　dissipated.　One　of　the　favorable　methods　to　take　advantage　of　such　dissipated　heat　is　to　combine　thermoelectric　generators　(TEG)　utilizing　the　IR　area　of　the　solar　radiation　with　photovoltaic　panels.　Having　the　different　and　opposite　impact　on　the　efficiency　of　thermal　photovoltaic　cells　(PV/T)　and　thermoelectric　generators　(TEG),　the　system　operating　temperature　appears　as　a　critical　parameter　in　the　productivity　of　a　PV/T-TEG　hybrid　unit.　In　the　present　study,　a　novel　heat　sink　for　a　PV/T-TEG　hybrid　system　is　introduced.　The　effectiveness　of　simultaneous　usage　of　the　Co3O4/water　nanofluid　and　the　improved　phase　change　material　(paraffin　wax/Alumina　powder)　as　a　cooling　method　on　the　performance　of　the　PV/T-TEG　is　examined　throughout　an　experimental　study.　Then,　the　overall　electrical,　thermal　and　exergy　efficiency　of　such　a　system　is　compared　to　the　units　with　divers　working　fluids　including　water　and　0.25%,　0.5%,　and　1%　nanofluid　and　the　unit　consisting　of　1%　nanofluid　with　non-enhanced　PCM　cooling　method.　The　results　reveal　that　using　1%　nanofluid　with　enhanced　PCM,　as　a　cooling　method,　would　improve　the　overall　electrical　efficiency　by　12.28%　compared　to　water　cooling　technique.　Also,　an　increase　of　11.6%　in　the　exergy　efficiency　of　the　PV/T-TEG　is　observed　in　comparison　with　PV/T-TEG　with　the　water　cooling　method.　Hence,　it　could　be　concluded　that　the　combination　of　this　unit　could　contribute　to　harnessing　solar　energy　more　efficiently,　compared　to　solo　photovoltaic　panels.