Upon studying photovoltaic (PV) systems, we find that they are contradictory. They require sunlight most importantly for the generation of electricity. But, as the temperature keeps increasing, the performance of the panel degrades. This paperwork is a review and compilation of systems used for cooling PV systems and in turn increasing efficiency. The goals of most researches were to increase efficiency as well as to ensure longer life of the panels. Cooling systems of two forms are used: active as well as passive cooling systems. Cooling systems that fall under the active category with better performance, increase electrical efficiency to 22 percent maximum and reduces the panel temperature to as high as 30°C. Whereas, cooling systems that fall in the passive category, enhance electrical efficiency to 15.5 percent and we may see a reduction of 6 to 20 °C in the module temperature. With the increase in usage of PV systems, using the optimized cooling system is becoming of importance.