Research on Proton Exchange Membrane fuel cells is an important area in the field of modern energy sources. Such fuel cells are characterized by high efficiency and fast response times, making them a promising solution for sustainable energy production. Fuel cells operate under both static and dynamic conditions. Such varying operating conditions result in achieving different efficiency of fuel cell systems. This study attempts an experimental and modeled efficiency evaluation of a 1.2 kW open-cathode air-cooled fuel cell stack under static and dynamic conditions. A Sankey energy balance and an analysis of the balance components were determined for the fuel cell stack operating in these two operating states. Simultaneous modeling of the fuel cell under both static and dynamic conditions was carried out. The efficiency values of the fuel cell stack were found to be slightly higher under static conditions than under dynamic conditions. Modeling fuel cells in static and dynamic conditions results in slightly different parameters (better conformance was obtained for static models).