This systematic review explores advancements and challenges in photovoltaic thermal (PVT) systems, focusing on efficiency improvements, cooling mechanisms, material innovations, Internet of Things (IoT) integration, and cost and environmental considerations. Following the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines, 45 articles were analyzed to provide a comprehensive understanding of current trends and future directions in PVT technology. Findings reveal that cooling mechanisms, particularly liquid-based and nanofluid-based systems, are essential for maintaining high PVT efficiency under diverse environmental conditions. Material advancements, including phase change materials (PCMs) and nanotechnology, have enhanced thermal management and energy storage capabilities, yet their high costs and environmental impacts remain significant barriers to broader adoption. IoT and smart grid integration have transformed PVT system functionality by enabling real-time monitoring, predictive maintenance, and energy flow adjustments within connected energy networks. However, persistent challenges—including high initial investment costs, environmental concerns related to materials, and the need for adaptable designs—highlight areas for future research. Advancements in adaptive materials, sustainable cooling solutions, and digital automation are essential for developing cost-effective, resilient PVT systems that contribute to global renewable energy goals. This review provides a foundation for future research to address the identified challenges and maximize the potential of PVT systems in sustainable energy production.
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