Solar-powered systems can supply clean and sustainable energy for both service requirements and also for the propulsion of marine vessels. However, the restricted available area for photovoltaic panels and high setup costs inhibits the sufficient energy production for satisfying the whole needs of vessels. Due to the limited panel area that can be installed on the vessel, it is necessary to improve the system efficiency in order to obtain more power from the existing solar panel system. In this study, cooling solar panels from the back surface with seawater in an open loop cooling water circuit for a 527-W solar-powered system are investigated. In order to observe the effects of cooling the panels, thermodynamic modeling and analysis of a foldable photovoltaic panel set have been carried out. The result illustrates the potential of these systems as the power output difference of the panel set is more than the consumed power for cooling on above-specific irradiation conditions. The remaining power output, which would be up to 37% of the uncooled system, is high enough to be utilized to speed up the marine vessels or to increase their range.