A novel PV/T/PCM system that generates electricity, stores heat and pre-heats water was characterised under outdoor conditions in Dublin, Ireland. The system design combines a PV module with a thermal collector; in which heat is removed from a heat exchanger embedded in PCM through a thermosyphon flow. System performance was compared against (a) the same system without PCM, (b) the same system without heat exchanger or PCM, and (c) the PV module alone. It was shown that the temperature attained by the water was approximately 5.5 degrees C higher when compared to a PV/T system with no PCM. PCM are shown to be an effective means of storing heat for later heat removal in a PV/T system. (C) 2016 Elsevier Ltd. All rights reserved.