The development of light-electricity conversion in nanomaterials has drawn intensive attention to the topic of achieving high efficiency and environmentally adaptive photoelectric technologies. Besides traditional improving methods, we noted that low-temperature cooling possesses advantages in applicability, stability and nondamaging characteristics. Because of the temperature-related physical properties of nanoscale materials, the working mechanism of cooling originates from intrinsic characteristics, such as crystal structure, carrier motion and carrier or trap density. Here, emerging advances in cooling-enhanced photoelectric performance are reviewed, including aspects of materials, performance and mechanisms. Finally, potential applications and existing issues are also summarized. These investigations on low-temperature cooling unveil it as an innovative strategy to further realize improvement to photoelectric conversion without damaging intrinsic components and foresee high-performance applications in extreme conditions.