In this work, temperature regulation and electrical output of a concentrated photovoltaic system coupled with a phase change material (CPVPCM) system is investigated and compared with a single sun crystalline photovoltaic (PV) system. A fully coupled thermal-optical-electrical model has been developed in-house to conduct the simulation studies for actual weather conditions of Doha (Qatar) and selected phase change materials (PCMs). The selected PCMs are lauric acid, RT47, S-series salt, STL47, ClimSelTM C48, RT54, RT60, RT62, and RT64. An optical concentration ratio of 20 is considered on a 15 mm wide crystalline silicon cell. The temperature evolution, thermal energy storage and electrical output of the CPVPCM system are obtained for 48-hour simulations with representative weather conditions for each month of a typical meteorological year (TMY). Results and overall thermal and electrical efficiency are compared for each PCM. In brief, the CPVPCM system with S-series salt performs better than all other PCM with an overall efficiency of 54.4%. Furthermore, this system consistently produces more power than a PV system with an equal footprint (1 m2) for each month of the TMY.