Commonly, the thermal behavior of solar cell modules is calculated with analytical approaches using non wavelength-dependent optical data. Here, we employ ray tracing of entire solar modules at wavelengths of 300-2500 nm to calculate heat sources. Subsequently, finite element method (FEM) simulations are used to solve the semiconductor equations coupled with the thermal conduction, thermal convection, and thermal radiation equations. The implemented model is validated with measurements from an outdoor test over the period of an entire year. Our ray tracing analysis of different solar modules under the AM.15G spectrum shows that, for a standard module about 18.9% of the sun's intensity becomes parasitically absorbed. A loss analysis shows that the biggest parasitic heat source is the cell's full-area rear side metallization. We hence propose the use of a SiNx layer as rear side mirror to reduce the parasitic absorption to 11.7%. This change can lead to a 3.2 °C lower module operating temperature, which results in an about 5 W higher electrical power output when considering a typical 260 W module.