Of the available RETs, photovoltaics have been promoted to extend the electric grid as technology matures
and manufacturing production economies of scale emerge,
however PV (particular residential PV) is poised to assume a more prominent role in the future electrical generation portfolio.
Earlier studies on PV systems have been in terms of modeling, system sizing and its performance, while studies based on the balance electricity price for integrating PV in a smart grid system is limited.
Tools are available for PV system design and sizing.
These are designed to address specific objectives, such as, design based on low life cycle cost or according to the expected function of the system.