The parabolic dish collector is the most commonly used system for producing more heat for water heating and electricity generation. Higher heat loss and cost are the major drawbacks of the system. The geometry of the solar receiver has significant effects on the performance of the parabolic dish solar collectors. Lower receiver temperatures, a continuous heat supply, and less heat loss would result from efficient heat absorption by water and heat storage. An effective receiver configuration would result in higher heat absorption and reduced surface temperature. As a result, in the current study, a novel receiver design with a water channel surrounded by a phase change material (PCM) channel is introduced and experimentally evaluated with a constant water flow rate. The findings demonstrate that the water flow channel effectively transfers heat from the solar energy to the PCM by absorbing it. This is done with the aid of rectangular fins. Peak radiation is reported with a receiver temperature of 148 °C and a maximum exit temperature of 105 °C. The calculated average receiver power and heat loss are 2.94 kW and 2.34 kW, respectively. The current system’s efficiency is 86% because the receiver surface absorbs more heat. The current receiver can overcome the primary flaw in solar energy, which can provide more heat energy without interruption in supply. Hopefully, this study may persuade stakeholders to choose solar energy for their heating needs.