A series of measurements on the performance of solar cell string modules with low-concentrating CPC reflectors with a concentration factor C ˜ 4X have been carried out. To minimise the reduction in efficiency due to high cell temperatures, the modules were cooled. Four different way of cooling were tested: 1) The thermal mass of the module was increased, 2) passive air cooling was used by introducing a small air gap between the module and the reflector, 3) the PV cells were cooled by a large cooling fin, 4) the module was actively cooled by circulating cold water on the back. The best performance was given with the actively cooled PV module which gave 2,2 times the output from a reference module while for the output from the module with a cooling fin the value was 1,8. Active cooling is also interesting due to the possibility of co-generation of thermal and electrical energy which is discussed in the paper. Simulations, based on climate data from Stockholm, latitude 59.4°N, show that there are good prospects for producing useful temperatures of the cooling fluid with only a slightly reduced performance of the electrical fraction of the PV thermal hybrid system.