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The present experimental study focuses on the energy storage performance of Therminol 55-TiO2 nanofluids for the absorption of solar energy. Photothermal conversion efficiency is enhanced using Fresnel lens and secondary reflectors with a glass-type evacuated absorber tube. The focal length of the Fresnel lens is 150 mm, and that of the secondary reflector is 70 mm. The optical absorbance, extinction coefficient, and thermal conductivity of nanofluids at 100, 250, 350, and 500 ppm are reported. The optical path length of the energy storage medium is 1 cm. The optical performance of the nanofluids is analyzed in the range of 400 to 800 nm. Compared to base fluid, the prepared concentrations show higher absorbance in the measured range of wavelength. The optimum concentration is found to be 250 ppm, and its specific heat is measured in the temperature range of 27 to 117°C and is found to vary from 1.85 to 2.19 J/g °C. The thermal conductivity of the maximum concentration of nanofluid is 0.134 W/mK. The optical absorbance test confirms the stability of nanofluids. Maximum temperature and photothermal conversion efficiency are obtained.