Nanofluids are advanced innovative working fluids used for energy absorption, transport and exchange medium. In our experimental analysis we have chosen nanofluid Ag/H₂O for evaluating performance of flat plate solar collector for exergy efficiency, entropy generation and thermal efficiency. We have tested fluid for varying concentration from 0.25% to 1.0%( wt %). Volume flow rate varied from 0.5lpm to 2.0 lpm). Experimental analysis established that for 0.75% volume concentration at the flow rate 1.5 l/min, thermal efficiency of FPSC for Ag/H₂O nanofluid is enhanced by 17.5%, observation in enhancement of exergy efficiency has been 22.5%. at the same time negligible entropy losses observed due to pressure drop and irreversibilities in flow. We can conclude that nanofluid based energy transporting systems are more efficient in terms of performance and energy saving.