Composites made from polymers and nanoparticles have promise to be effective solar collectors and thermal energy storage devices due to benefits including improved thermal characteristics and increased structural stability. This study intends to fabricate polyacrylic acid/silicon carbide (PAA−SiC) nanocomposites and examine the optical properties for use in solar collectors and thermal energy storage (TES) fields. The optical properties of PAA−SiC nanocomposites are investigated within the wavelength between 340 and 840 nm. The findings indicate that an increase in SiC concentration in the PAA aqueous solution to 50 g/L at a wavelength of λ = 400 nm causes an increase in the absorption by 50.2% besides a reduction in transmission by 6%. Furthermore, the energy band gaps were reduced from 3.25 eV to 2.95 eV to allow for the transition, and subsequently reduced from 3.15 eV to 2.9 eV to allow for forbidden transition as a result of the increasing SiC concentration from 12.5 g/L to 50 g/L. The optical factors of energy absorption and optical conductivity were also enhanced with a rising SiC concentration from 12.5 to 50 g/L. Specifically, an improvement of 61% in the melting time of PAA−SiC−H2O nanofluids is concluded. Accordingly, it can be said that the PAA−SiC−H2O nanofluids are suitable for renewable energy and TES systems.