The solar photovoltaic system for domestic application rapidly increased in India. Several studies have already proved that the efficiency range of the photovoltaic units is only 15-25%. Also a detail studies have been carried out on the factors affecting power output of PV System. Among various factors like dust, temperature, humidity, the Temperature has major influence on power output. This paper detailed about recovering the waste heat, (the heat generated in the panel) near achieving concurrent benefits for Water Heating and Cooling of Panels and increased the power output.