In summary, energy consumption is increasing due to the increasing global population and depletion of fossil fuels. PV cells are seen as a promising source of renewable energy, but their efficiency can be hindered by various factors, including high costs and reduced efficiency in developing countries. To address these challenges, this research proposes contemporary and cost-effective MPPT and cooling systems to enhance PV panel efficiency. It suggests using ANN and PCMs for cooling to mitigate the negative impacts of high temperatures for conversion efficiency improvement of the PV panels’ output power. The integration of PCM cooling can optimise PV panel performance, increase energy output, and promote broader adoption of solar energy as a reliable renewable source. The proposed model has been demonstrated to enhance the conversion efficiency of PV cells by minimising thermal losses through simulations and analyses performed using MATLAB/Simulink software.