Photovoltaic (PV) energy conversion has grown in importance in the past decade. Number of large PV power plants with nominal power of the order of tens of MW p and a number of smaller PV systems on the roofs were installed (Poulek, Libra 2010). Most of them were installed in Europe, mainly in connection with the subsidy policies of some countries.It is known that changes in operation temperature cause changes of current and voltage of PV cells and PV modules (i.e. I-V characteristic). Increasing temperature decreases the open-circuit voltage. This effect simultaneously increases the short-circuit current (Orioli, Di Gangi 2013; Barukcic et al. 2014; Baig et al. 2015). The efficiency of the photovoltaic energy conversion thus decreases with the increasing temperature (Karatepe et al. 2007). In this paper, this phenomenon is theoretically explained by the theory of solid state physics (Pikus 1965;Snejdar, Frank 1976;Kittel 2005). Similar problems were discussed previously (Carrero et al. 2011;Liu et al. 2011;Ding et al. 2014) in case of common solar cells or by (Strebkov 2010) in case of matrix solar cells. The I-V and P-V characteristics of partially shaded PV system were also discussed (Kofinas et al. 2015). The increasing temperature causes a narrowing of the forbidden gap and a shift of the Fermi energy level toward the centre of the forbidden gap. Both these effects lead to a reduction of the potential barrier in the band diagram of the illuminated PN junction, and thus to a decrease of the photovoltaic voltage. In addition, narrowing of the forbidden gap causes higher generation of electron-hole pairs in the illuminated PN junction and short-circuit current increases.