The aim of this study was to evaluate the electrical efficiency of a Photovoltaic/Thermal system by cooling through the use of water and ethanol. The solar panel was submerged in a cooling liquid of varying concentrations, which circulated within a glass container. Between 10:00-10:30 AM and 1:00-2:00 PM, the performance of the photovoltaic/thermal system surpassed that of the control panel; however, during other periods of the day, the PV/T system's performance experienced a significant decline. The highest electrical efficiency was observed with water, followed by a mixture containing 25% ethanol and water, while the lowest efficiency was associated with a solution of 50% ethanol and water. This indicates that the inclusion of ethanol did not enhance system efficiency and, in fact, led to a reduction. As the concentration of ethanol in the water solution increased, efficiency correspondingly decreased, suggesting that ethanol is not an appropriate fluid for immersion cooling systems. Furthermore, considering the environmental implications of pollutants, it is essential to assess whether the PV/T system generates more pollutants compared to a photovoltaic panel. The life cycle assessment results indicated that, with the exception of human toxicity and mineral extraction, the photovoltaic panel had a more significant impact on pollution, accounting for 79.9% of the ionizing radiation emissions.