Jet impingement cooling enhances photovoltaic (PV) system efficiency by using high-speed fluid jets to reduce panel temperatures, improving performance and longevity. The effectiveness depends on factors like fluid flow rate, nozzle placement, and distance from the panel. While it boosts energy output, it may increase energy use for fluid circulation and add complexity to the system. This research explores a groundbreaking approach to enhancing the efficiency of bifacial photovoltaic thermal (BPVT) systems by integrating jet impingement technology. A novel design featuring a jet plate reflector is introduced, offering the dual benefit of cooling the PV panels while simultaneously reflecting light to optimize energy capture. The study comprehensively analyses the system’s performance, including energy output and a detailed techno-economic and environmental-economic evaluation. The modelling in this study was validated and reasonably consistent with experimental results. The system's output air temperature and thermal efficiency are 302.07–318.75 K and 33.83–62.28 %, respectively. The temperature and electrical efficiency range for PV systems are 304.39–339.54 K and 9.39–11.22 %. Reduced mass flow rate and increased solar irradiation are the most economically advantageous operating parameters for the proposed system, resulting in lower annual pumping costs and more significant annual energy gains for the system. CBR variations range from 0.1363 to 9.3445, with an average of 2. Additionally, by using BPVT with jet impingement to generate electricity rather than fossil fuels, it is possible to reduce annual carbon dioxide emissions by approximately 1.61 tons and save RM93.51 annually. In general, the proposed method should be used to minimize environmental pollution.