Abstract: In this paper, a novel zero-dimensional model is proposed to assess and optimize the performance of a photovoltaic-thermal (PVT) system. The zero-dimensional model does not rely on spatial resolution or time-dependent variables. The model consists of thermodynamic relations that analyze the energy and the exergy of the PVT system. The mathematical model is validated against an in-house experimental PVT system that consists of a polycrystalline (PV) module attached to a double series-parallel serpentine thermal collector (TC). This comparison confirms the accuracy of the zero-dimensional model by predicting the difference between inlet and outlet water temperatures as well as the surface temperature of PV with an average error of 0.13 and 1.80°C, respectively. Then, using the validated model, a parametric study is conducted to optimize various design and operation parameters such as mass flow rates, inlet temperature, solar irradiance and wind speed; hence to improve the overall performance of the system. The experimental results indicate that, a mass flow rate of 0.001 kg/s and an ambient inlet temperature provide the highest overall second law efficiency of 15.2%. Also, it is observed that the PVT system shows better performances in regions with relatively low ambient temperature yet high solar radiation. © 2022, Allerton Press, Inc.