This paper offers a theoretical and experimental examination of the concurrent production of electricity and heat using photovoltaic thermal (PV/T) technology. The efficiency performance of the PV/T system is meticulously analyzed using MATLAB/Simulink software environments. Notably, the proposed PV/T system shows reliable performance, and its validity is confirmed through experimental validation on a test stand with a single PV/T panel positioned at a 45-degree angle to the horizontal and a 0-degree azimuth angle. The measurements were conducted during the summer season, and two models were suggested to calculate the overall efficiency of the PV/T system. The variance between the results obtained from the two models was minimal, below 5%. For the examined panel type, the following average values were derived: electrical efficiency = 12.01%, thermal efficiency = 47.21%, and overall efficiency = 59.23%.