Combining thermoelectric generator (TEG) and photovoltaic cell (PV) has recently been considered as a promising way to increase the efficiency of solar cell and also extra energy generation by TEG. In the present paper, an exhaustive parametric research is conducted on a novel integrated TE-PV cell. Considering ambient conditions, cold side temperature, load resistance of TEG and some other important factors, the device is mathematically modeled and simulated. The results show that the total output power of the integrated device is strongly affected by several important physical and geometrical characteristics of the device. Material properties, number of TEG couples, cross sectional area, length and other parameters of the system are determined in an optimum range in order to achieve a more compatible and efficient integration of TEG and PV. Consequently, the device has the benefit of working efficiently especially in two applications of combining with solar collectors and also outer space conditions.