High-concentrator photovoltaic (HCPV) modules incorporate solar cells, optical devices, cooling mechanisms, and other elements in an assembly to provide the functions required to concentrate sunlight and obtain electricity. The variety of designs for configuring HCPV modules is introduced in this chapter. Thermal management, an important aspect to be considered in the design of these modules, is discussed, as are the possibilities and innovations for implementing cooling mechanisms. The behavior of HCPV modules is complex because of the different interdependent elements and involved processes and because of the changing operating conditions in the field. The experimental analysis of available modules has motivated progress in understanding this complex behavior. The influence of different atmospheric parameters on such behavior is analyzed in this chapter. In addition, existing models for the electrical characterization of HCPV modules are reviewed. Many of these models have been recently developed and are intended for a more accurate simulation of the behavior, for easier implementation, or for meeting specific needs of the HCPV industry. The availability of reliable models to predict the energy harvested by HCPV is important to promote this photovoltaic technology.