For ample utilization of the inlet sunlight, a novel coupled system composed of a photovoltaic module (PVM), a thermoelectric generator (TEG), and a thermoelectric cooler (TEC) is proposed. Short-wave sunlight is sent to PVM to generate electricity, while long-wave sunlight is converted by SSA into heat for TEG-TEC to provide additional cooling. Considering diverse irreversible losses of the cogeneration system, the current relationship between the PVM and the TEG-TEC is analyzed. Besides, the expressions for the performance indexes of the coupled system are deduced under distinct operating conditions. Numerical calculation results illustrate that the power output density and efficiency of the cogeneration system are 3.98% and 3.97% greater than those of a single PVM system in the working current range of TEG-TEC, respectively. Furthermore, the power output density and efficiency of the coupled system with the Thomson effect are, respectively, reduced by 2.47% and 2.46% compared with the proposed system without the Thomson effect. Finally, the impacts of solar irradiance, PVM operating temperature, thermoelectric elements number, environment temperature, and diode ideality factor on the overall module performance are explored. This study results may supply some new ideas for enhancing PVM performance.