Five different models for calculating solar module temperature, output power and efficiency for sunny days with different solar radiation intensities and ambient temperatures are assessed in this paper. Thereafter, modeled values are compared to the experimentally obtained values for the horizontal solar module in Nis, Serbia. The criterion for determining the best model was based on the statistical analysis and the agreement between the calculated and the experimental values. The calculated values of solar module temperature are in good agreement with the experimentally obtained ones, with some variations over and under the measured values. The best agreement between calculated and experimentally obtained values was for summer months with high solar radiation intensity. The nonlinear model for calculating the output power is much better than the linear model and at the same time predicts better the total electrical energy generated by the solar module during the day. The nonlinear model for calculating the solar module efficiency predicts the efficiency higher than the STC (Standard Test Conditions) value of solar module efficiency for all conditions, while the linear model predicts the solar module efficiency very well. This paper provides a simple and efficient guideline to estimate relevant parameters of a monocrystalline silicon solar module under the moderate-continental climate conditions.