Building-integrated photovoltaic (BIPV) panels are important for enhancing building self-power generation, promoting sustainable energy practices, and reducing dependence on the grid. Nevertheless, the efficiency and output power of these panels are negatively affected by the temperature increase caused by incident solar radiation. Thus, the present study introduces an innovative paraffin/carbon foam composite phase change material for efficient thermal management of building-integrated photovoltaic panels. Through indoor and outdoor experimental tests, the study evaluated and compared the performance of the proposed system. This system integrates a PV panel with an RT-55 phase change material and carbon foam structure (BIPV-PCM-CF) and was compared to three other cases, including a naturally cooled free PV panel, a building wall integrated PV panel to simulate conventional building-integrated photovoltaic system (BIPV), and a PV panel integrated with only RT-55 paraffin wax as the phase change material (BIPV-PCM). The study found that integrating the PV cell into building walls (BIVP) increased its temperature by 9.61 °C and decreased generated power and efficiency by 5.11 % and 10.95 %, respectively, compared to the free PV panel. On the other hand, the BIPV-PCM panel reduced module temperature by 18.1 °C but could not solidify the needed amount of PCM during the nighttime. The BIPV-PCM-CF panel, which incorporated carbon foam with PCM, outperformed the other systems, producing a cooling performance of 22.94 °C and increasing electricity generation and system efficiency by an average of 12.64 % and 27.35 %, respectively, compared to the free PV panel. These findings highlight effective strategies to promote sustainable energy practices, improve the electric performance of BIPV panels, and reduce dependence on non-renewable energy sources in buildings.