The installation rate of crystalline silicon photovoltaic (PV) modules worldwide is at an all-time high and is projected to continue to grow as the cost of PV technology is reduced. It is important to note that PV power generation is heavily influenced by the local climate. In particular, for crystalline silicon-based PV devices, as the operating temperature of the panel increases, the efficiency decreases. Higher operating temperatures also lead to accelerated material and mechanical degradation, potentially compromising system effectiveness over the lifetime of the panels. In addition, atmospheric pollution can cause particle deposition on the surface of PV modules (soiling), reducing the amount of solar irradiance that reaches the PV material and reducing panel efficiency. Various cooling and cleaning methods have been proposed in the literature to mitigate these problems. In this study, a uniform film of water was continuously recirculated by pumping over the surface of a solar panel using an emitter head attached to the top of the panel. The water cooling technique was able to maintain panel temperature below 40 °C while adjacent untreated panels were operating near 55 °C. Besides the efficiency improvements due to cooling, the film of water also kept the panels clean, avoiding any reduced power output caused by panel soiling. Additional studies were carried out with artificially chilled cooling fluid, insulating materials, and side mirrors to examine the cooling system performance under different installation scenarios. Water cooling is concluded to be an effective means of increasing the efficiency of monocrystalline silicon photovoltaic panels. Under normal operating conditions, the increased energy output from the panels is more than sufficient to compensate for the energy required to pump the water.