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The efficiency of photovoltaic modules decreases as the cell temperature increases. It is necessary to have an adequate thermal management mechanism for a photovoltaic module, especially when combined with a building construction system. This study aims to investigate via computational fluid dynamics simulations the heat transfer characteristics and thermal management performance of microencapsulated phase change material modules for photovoltaic applications under temporal variations of daily solar irradiation. The results show that the aspect ratio of the microencapsulated phase change material layer has significant effects on the heat transfer characteristics and the overall thermal performance of the two cases examined with different melting points (26 °C and 34 °C) are approximately the same.