The cooling of PV panels has the potential to reduce the cost of solar energy. By proper circulation of a fluid with low inlet temperature, heat can be extracted from PV modules, keeping the electrical efficiency at satisfactory values. In this paper, the dynamic of air cooled PV panels’ temperature are experimentally investigated. The following measurements were made: a) the PV panel open circuit voltage decreasing, in the absence of the cooling air forced circulation, from the moment when the PV panel was exposed to the Sun; b) the PV panel open circuit voltage increasing, in the presence of the cooling air forced circulation, starting from the initial value due of the captured solar radiation, measured in the absence of the cooling air forced circulation; c) the PV panel front temperature distribution during the increasing and decreasing of the panel temperature. Based on the results of these measurements, the parameters of a simple dynamic thermal model of the PV panel were estimated.