The article presents how to increase electrical efficiency and power output of photovoltaic (PV) panel with the use of a phase change material (PCM). The focus of the work is in experimental setup and simulation heat extraction from the PV panel with the use of TRNSYS software. A modification of PV panel Canadian Solar CS6P-M was made with a phase change material RT28HC. The actual data of cell temperature of a PV panel with and without PCM were given and compared. A simulation of both PV panels in TRNSYS software was performed, followed by the comparison of results with the simulation and experimental actual data. The experimental results show that the maximum temperature difference on the surface of PV panel without PCM was 35.6 degrees C higher than on a panel with PCM in a period of one day. Referring to experimental results the calculation of the maximum and average increase of electrical efficiency was made for PV-PCM panel with TRNSYS software. Final results of simulation shows that the electricity production of PV-PCM panel for a city of Ljubljana was higher for 7.3% in a period of one year. (C) 2016 Elsevier Ltd. All rights reserved.