In this experimental investigation, a thermo-enviro-economic analysis is presented for a hybrid photovoltaic (PVT)/thermoelectric generator (TEGs) system. A comparative investigation between a reference PV, PVT with water, and PVT with TEG/nanofluid was performed. The key findings from the comparative study revealed that compared to the reference PV panel, the temperature drop of the PVT/Water, and PVT/TEG/nanofluid configurations are found to be 25.1 %, and 41.2 %, respectively. The electrical efficiencies of the PVT/Water, and PVT/TEG/nanofluid panels also improved by 5.8 %, and 8.5 %, respectively. Furthermore, it was found that the levelized cost of energy (LCOE), energy payback time (EPBT), and the environmental impact (net CO2 mitigation, and carbon credit) achieved for the PVT/TEG/nanofluid system, are 0.051–0.178 $/kWh, 3.36 years, 2.07 ton/year, 51.94 $/year, respectively. The LCOE and EPBT were found to be relatively high for the PVT/TEG/nanofluid system, compared to that of the PVT/Water, and reference PV module due to the extra cost incurred in its construction materials.