Spectral splitting technology can prevent a photovoltaic cell (PV) overheating ability and efficiency loss. The solar spectrum is split into two portions using this technology: the first produces electricity, while the second generates heat. The present research offers the design and performance evaluation of a novel PV-thermal (PV/T) system based on a compound parabolic concentrator (CPC) and a selective absorptive fluid-based optical filter. Different experiments are conducted to indicate the impact of 1, 3, and 5 cm air gaps between the optical filter and PV on the system's average outputs. In addition, the impact of tilting the solar concentrator on the system's performance was also investigated. Finally, a simulation of the cell's electrical performance was produced. Experimental findings demonstrated that all CPC-PV systems with an optical filter have a greater electrical efficiency of about 17% compared to 13.1% and 7.1% for no-filter CPC-PV systems and bare PV cells, respectively. The 3-cm air gap case also demonstrated the most significant electrical, thermal, and overall efficiency improvements, with average values of 17.1, 21.0, and 32.8%, respectively. Additionally, the inclined position of the CPC outperforms the horizontal position. Theoretical results, in terms of electrical performance, supported the experimental findings.