The refrigeration application of renewable energy technologies is essential for improving energy efficiency and sustainability. This study explores the potential of hybrid PVT systems coupled with TEGs to achieve these goals. The hypothesis is that a semi-transparent or glass-to-glass PV module in a PVT-TEG system would outperform an opaque PV module in terms of exergy output and refrigeration efficiency. MATLAB-based simulations were used to develop thermal models and evaluate the performance of two systems: one featuring an opaque PV module (case 1) and the other with a semi-transparent PV module (case 2), under clear-day conditions in Srinagar during May. The results indicate that the semi-transparent system's daily overall exergy output was 27.74 Wh higher than that of the opaque system, and the COP of the VAR system was also higher in case 2 by 37.17% (peak value). These findings suggest that utilizing a glass-to-glass PV module in a PVT-TEG system enhances exergy output and refrigeration efficiency, making it a more effective solution for critical applications like vaccine refrigeration and industrial hot water supply in remote areas.