Nowadays, mitigating climate-altering emissions resulting from air conditioning and mechanical ventilation of indoor spaces is of utmost importance. Encourage the adoption of renewable energy sources for power generation is a critical approach in this regard. Among the available technologies, photovoltaic technology stands as the most mature option. However, it does have limitations, such as reduced efficiency and performance degradation at elevated temperatures. To enhance the efficiency of photovoltaic systems, various solutions have been proposed over time, with significant research focusing on the exploration of new materials. One of the most promising solutions involves panel cooling through the utilization of external fluids, either in a forced or natural manner. Furthermore, the extracted heat from this cooling process can be effectively reused in other industrial processes, adding to its appeal. Nonetheless, despite its potential, the application of panel cooling technology is relatively recent, and assessing its suitability in specific scenarios at an early stage can be challenging. Currently, there is a lack of clear and straightforward methodologies to evaluate the performance gains achievable through the implementation of panel cooling. The primary objective of this research is to present an innovative methodology that can effectively assess panel cooling efficiency on an average daily-monthly basis. Specifically, we propose corrective parameters that modify the widely used Siegel method, which determines the monthly average daily efficiency of uncooled panels. Throughout the study, it has become evident that the input values derived from the UNI standard do not fully represent the real-world conditions. This finding may indicate the necessity for regulatory updates to accurately account for the practical operational environment.