-For commercial one-sun solar modules, up to 80% of the incoming sunlight may be dissipated as heat, potentially raising the temperature 20°C-30°C higher than the ambient. In the long term, extreme self-heating erodes efficiency and shortens lifetime, thereby dramatically reducing the total energy output. Therefore, it is critically important to develop effective and practical (and preferably passive) cooling methods to reduce operating temperature of PV modules. In this paper, we explore two fundamental (but often overlooked) origins of PV self-heating, namely, sub-bandgap absorption and imperfect thermal radiation. The analysis suggests that we redesign the optical properties of the solar module to eliminate parasitic absorption (selective-spectral cooling) and enhance thermal emission (radiative cooling). Comprehensive opto-electro-thermal simulation shows that the proposed techniques would cool one-sun terrestrial solar modules up to 10°C. This self-cooling would substantially extend the lifetime for solar modules, with corresponding increase in energy yields and reduced levelised cost of electricity (LCOE).