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Solar panel efficiency decreases with an increase in the panel surface temperature. This study utilized the Phase Change Material (PCM) based cooling approach along with Aluminum fins to reduce the temperature of the PV panel. The PV panel surface temperature and efficiency are the target parameters we investigated. The results were compared with conventional PV panel values at inclination angles of 30°, 45°, and 60° with respect to the ground. The experimental results show that the PV panel efficiency increased by 6.85%, 6.82%, and 4.2% for the inclination angles of 30°, 45°, and 60°, respectively. The corresponding maximum temperature drops were 13.1 °C, 12.9 °C, and 8.5 °C.