This article aims at cooling the PV panel surface and recycling the waste heat. PV/thermal hybrid system is set up by putting the cooling system below the PV panel to discuss the inclination effect and total efficiency. The Voltage-current data of PV panel and the temperature of storage tank were got by different simulated radiation of 400~1200 W/m2. The efficiency of the PV panel would also be calculated and analyzed. In this experiment, a set of solar hot water system was also set up and measured at the mean time. The result showed the efficiency of 20° inclination was better than 30° inclination, and also showed the total efficiency of PV/thermal hybrid system was better than solar hot water system.