This paper presents the effect of the front surface water cooling on performance parameters (solar cell temperature, back surface temperature, outlet water temperature, electrical efficiency, overall efficiency, etc.) of photovoltaic/thermal (PV/T) module in both winter and summer seasons in Indian climatic conditions. A mathematical model of PV/T module considering energy balance equations has also been presented. A comparative analysis of performance parameters obtained analytically and experimentally has also been presented. A fair agreement has also been found between analytical and experimental results which is supported by correlation coefficient of approximately unity and root mean square error of 10–14%. By front surface water cooling, solar cell and back surface temperature of PV/T module have been found to decrease considerably which in turn resulted in enhanced electrical and overall efficiency of module in winter and summer seasons.