The efficiency of electricity production from a photovoltaic (PV) panel is negatively impacted by the elevated temperature of the solar cell, which corresponds to the intensity of solar radiation received. This temperature rise leads to a reduction in PV efficiency. To counteract this effect and enhance efficiency, the implementation of a cooling system is imperative. This study explores a passive cooling strategy employing L-shaped aluminum fins coated with two water-based nanofluids [Aluminum oxide (Al2O3) and Zinc oxide (ZnO)] at varying concentrations. These fins were affixed at different distances on the rear side of four PV modules, with the fifth module serving as a control unit. The temperature on the backside of each module was monitored at 30-min intervals, and concurrent estimations were made for current and power production. Results indicate that the passive cooling method, utilizing natural convection, effectively reduced the temperature on the backside of the PV modules. Notably, employing a 2 cm spacing between the fins and concentrations of 0.2% ZnO and 0.4% Al2O3 resulted in power improvements of 8.84% and 9.43%, respectively. Furthermore, the efficiency of the PV panel with a 2 cm fin spacing and utilizing ZnO and Al2O3 for cooling increased by approximately 10.50% and 11.27%, respectively, compared to the control unit.