During their outdoor service, photovoltaic (PV) modules are exposed to different set of external stresses that can affect their efficiency and lifetime such as UV irradiation, temperature and humidity cycles, rain, snow and wind loads, hail, sand and/or salt. Moreover, internal stresses such as choice of materials and design (additives, morphology and compatibility of materials) can drive degradation of PV modules as well. The failure data collection started already in 1980s and is still ongoing. Most of these studies are focused mainly on power data or categorizing PV failure modes concerning solely climate, EVA or cell-technology. However, relationship between climate, degradation of polymeric materials and degradation of PV modules has not been reported so far. Hence, within this study a lot of effort was put into finding the appropriate data and publications with as many as possible data on PV, climate and materials degradation. As a result, a great overview of climate and polymeric materials induced PV failure modes is given. Based on the reported data, the topic of new, climate-based design of PV modules is discussed. This paper provides numerous number of selected references that can be beneficial in further studies on degradation of PV modules, design of PV modules and choice of materials.