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Among the factors affecting the efficiency of PV panels is the overheating. For every 1oC rise in temperature, the efficiency of the PV panel drops by 1%. The objective of this research is to develop new technique for improving the performance of Photovoltaic (PV) panels. Two technologies were proposed to improve the performance of the PV panels. The first technique is coating the panel by oil in order to improve the absorptivity of the panel surface. It was found that coating the PV panel with a layer of Labovac oil of a thickness of 10 mm, improves the efficiency of the PV panel by more than 6%. The second technique is to use passive cooling. The cooling process was enhanced by creating natural convection currents. Throw holes were drilled in a mono-crystalline panel to allow hot, low-density air below the PV panel to rise through the holes. It was found that the average temperature difference between the panel with holes and another panel with no holes is 5oC Further parameters were studied using CFD. It was found that the temperature of the PV panel decreases as the number of holes increases. Also, the locations of the holes have an effect on the temperature of the PV panels.