To enhance the production and efficiency of photovoltaic systems, research has been conducted on various techniques including the use of compound parabolic reflectors (CPCs). A mathematical model is developed using the governing solar radiation and CPC geometry equations to optimize the geometrical parameters required for the experimental setup. The optimal values for the half acceptance angle and tilt angle were found to be 25° and 35°, respectively. Based on these optimal parameters, a laboratory setup was fabricated and evaluated. To compare the performance of our CPC-based system, three different panels constructed: a simple PV panel without a concentrator, a PV panel with a concentrator but without cooling (CPC-PV), and a PV panel with a concentrator and water cooling (CPC-PVT). Results showed that the use of a CPC with a concentration ratio of 1.7 in both modes, with and without cooling, led to a 10 % and 20 % increase in the output power, respectively, compared to the simple PV panel. In summary, this study demonstrates the effectiveness of using a CPC in enhancing the production and efficiency of photovoltaic systems. The mathematical model developed in this research can be utilized for optimizing the geometrical parameters required for the design of CPC-based systems. The experimental results obtained from this study indicate that the use of a CPC with water cooling can significantly improve the energy output of the photovoltaic system. These findings can aid in the design of cost-effective and efficient photovoltaic systems.