<p>In this review, the key limitations of existing photovoltaic (PV) systems in respect to efficiency are pointed out at their best, an issue which becomes even more pressing due to performance drop off those results from temperature, especially under fluctuations in solar irradiance. Thermal management techniques must ensure that the energy conversion efficiency of PV systems does not degrade due to heat. This includes the significantly adverse effects of efficiency losses due to the heat, which must be neutralized in order to maintain optimal deployment of PV systems by applying effective cooling strategies. This review presents an overview of a number of mechanisms, makes an assessment of their effectiveness on enhancement of PV performance, extension of lifetime, and sustainability. This review summarizes the recent progress and highlights the gaps in research related to maximizing the efficiency of PV systems; thus, can be a valuable resource for researchers and industrialists who are looking for new ideas to enhance PV system feasibility. Enhanced cooling design optimizes energy output for greater sustainability of PV systems and contributes to greenhouse gas reduction. Furthermore, cooling strategies, if implemented, can extend the lifespan of PVs, providing long-term benefits and an increased return on investment. Hence, the development of these cooling methods is important in order to achieve maximum power of photovoltaic generations.</p>