It is necessary to measure the solar cell parameter fur understanding characteristic of solar cell and applying to many other fields. Since photovoltaic system consists of solar cell module, which are connected each other in series and parallel, it is not proper to apply a solar cell parameter to photovoltaic system. Therefore, to estimate the solar tell module and to solve the problem of the established algorithm is on demand. In this paper the authors have improved the accuracy of solar cell module Parameter estimation by compensating series and Parallel resistance, and developed a new parameter estimation algorithm, which can be applied to photovoltaic system without high cost measuring equipment. And the validity of proposed algorithm is verified by the simulation and experimentation.