Abstract A detailed research study was performed on the annual energy received by a fixed-tilt solar collector. A new clear-sky model of solar radiation was developed by combining existing clear-sky models. Then, this model, was used to perform optimizations with two different objectives. The first objective is to achieve the maximum-annual solar energy received by a solar panel, while the second is to balance its energy received so that it is more uniform over the course of a year. Each of these objectives have differing optimum tilt values, depending on the location and usage of a solar receiver system. The novelty of this investigation is the use of the aforementioned solar model with a unique algorithm for multiple optimizations for these two different objectives, which results in two different optimum tilt angles that are in turn different from the widely accepted rule-of-thumb that recommends an angle that is equal to the latitude. The solar radiation results obtained with the model used herein were experimentally confirmed through comparison with measured weather data for a number of locations with different sky clearness indexes as well as comparison with those of other studies found in the literature. A major contribution of this study are the plots and tables showing optimum tilt angles as estimated by the model as well as with empirical data. By selecting the appropriate tilt angle, a designer can now decide to either maximize annual electrical energy production or else to balance delivery of electricity over the year.