In this paper, a mathematical model has been developed to calculate solar cell temperature and module efficiency in opaque mono crystalline silicon (sc-Si) PV module on the basis of degradation rate. The calculated results have been validated by experimental investigations for the opaque PV module. Module efficiency and solar cell temperature of the opaque PV module decrease with increase in degradation rate. In this context, energy matrices are developed and enviroeconomic analysis has been done on the basis of annual energy output of PV modules for different degradation rate. Efficiency and temperature of PV module have been decreasing with an increase in the degradation rate. The energy payback time is found to be 8.80 years and 9.29 years for degradation rate 0.3%/year and 0.9%/year, respectively and unit cost (Rs./kWh) increase with an increase in the degradation rate of PV module. Similarly, the environmental cost reduction is higher for 0.3%/year degradation rate and lower for 0.9%/year degradation rate. (C) 2016 Elsevier Ltd. All rights reserved.