This paper addresses the optimization of photovoltaic (PV) systems to increase their efficiency. The study introduces a new pricing model that considers the current price of PV inverters. In addition, Markov modeling is used in a new optimization framework to determine the optimal configuration, considering the number of PV modules and inverters, operational constraints, and failure events of PV inverters up to 100 kW. A case study with six real PV inverters confirms the effectiveness of the proposed framework. It calculates the average daily hours of rated power generation considering geographic location, temperature, and solar irradiance using real data from a real PV system. The study identifies both local and global optimal solutions for PV inverters (15 kW to 100 kW), while minimizing the effective levelized cost of energy. The results of the study have important implications for future assessments of PV module failures and repairs
