This study proposes an innovative building-integrated photovoltaic (BIPV) by integrating building structure, a heat flow mechanism, and a microencapsulated phase change material (MEPCM) with a photovoltaic (PV) module. Parametric simulations of the thermal and electrical performances of this PV module were performed to account for the influences of external and internal ambient environments, daily solar irradiation, and thickness as well as the melting point of the MEPCM layer. The results show that incorporating the appropriate microencapsulated phase change material layer can improve the thermal and electrical performances of the photovoltaic module. The melting temperature and aspect ratio significantly affect the thermal and electrical performance of the PV module.