The performance of a photovoltaic (PV) power generation system could be improved through the optimal control and operation of a PV module which is one of the fundamental components of this system. Thus, an appropriate PV module model along with precise knowledge of its parameters is necessary. This paper proposes a novel technique to estimate the source current, the saturation current of diodes, the shunt resistance, the series resistance, the ideality coefficient of diodes and the maximum power points (MPPs) of PV modules at the same time. This estimation problem can be described by the minimization of the root mean squared error (RMSE) of the powers obtained from the PV module through estimation and experiment. The improved stochastic fractal search (ISFS) algorithm is proposed to solve this minimization with two modifications. The first replaces the logarithmic function with the exponential function in the standard deviation of the diffusion technique to improve the exploration ability efficiently in the search space. The second utilizes the sine map instead of the uniform distribution in both the diffusion and update techniques for improving the performance of the ISFS algorithm. Numerical results demonstrate the remarkable ability of the ISFS algorithm in obtaining both the model parameters and MPPs of the PV module with high accuracy. The comparison shows that the ISFS algorithm outperforms other meta-heuristic algorithms such as a stochastic fractal search (SFS) algorithm, a particle swarm optimization (PSO) algorithm, and an improved particle swarm optimization (IPSO) algorithm in the proposed parameter estimation application.INDEX TERMS Estimation, maximum power point, meta-heuristic algorithms, model parameter, photovoltaic modules