Due to the risk of global warming, a shift towards a sustainable energy supply is needed more than ever. Photovoltaic systems provide a method to generate electricity in a sustainable way. However, the electricity market is extremely price driven, and due to the fact that the generation of electricity depends on the weather conditions, a detailed understanding of the energy yield is required in order to accelerate the transition towards a sustainable energy system. In this dissertation, a holistic energy yield evaluation approach is developed. The optical, thermal and electrical behaviour of photovoltaic modules is integrated into the modelling approach. This approach is bottom-up /physics based, accurate, versatile, and fast and it is able to accurately evaluate the energy yield even during highly varying and non-uniform weather conditions. Next to that, due to the physics-based nature, the approach can be used for the energy yield exploration of novel photovoltaic module technologies including smart photovoltaic modules. The developed modelling approach achieves a beyond state-of-the-art accuracy even for short-term energy yield evaluations. This accuracy was mainly achieved by an improved integration of the impact of wind on the operating temperature and the incorporation of the thermal state. Numerous indoor and outdoor tests were performed to calibrate and validate each individual element and the complete modelling approach. This modelling approach can contribute in further reducing the levelized cost of energy produced by PV systems, and in assuring a stable and continuous, sustainable energy system.