The application of renewable energy sources in electric power systems is increasing. There is a growing need for economic evaluation to inform photovoltaic (PV) allocation decisions for a range of decision-makers. In this study, power output and temperature data collected from PV modules in Istanbul, Turkey in 2009 have been analyzed to determine solar power generation potential. In addition to the measurements, technical and commercial parameters were also used to perform the evaluation. Different tariffs such as time-of-use and feed-in tariffs were considered in this study.