In this paper, relative life cycle economic analysis (LCEA) of stand-alone solar PV modules is performed with respect to portable fossil fuel driven power sources to test their commercial prospects in remote regions of Bangladesh which do not have a direct access to grid supply. Overall life time expenditures related to the power projects are analyzed and compared with the help of net present worth (NPW) theory. The influence of market controlling factors like government subsidies, excess inflation over the general trend, and price hike are established with case study of medium-scale petrol–diesel generators (0.8–10kW) and solar photovoltaic modules (100Wp). It is found that the cost effectiveness of conventional or ‘green’ power driven sources depends on kW rating of generators and daily demand on customer-end in the context of a developing country like Bangladesh. The demand coverage which would determine the commercial viability of renewable and non-renewable sources is calculated considering pragmatic power rating of generators available in the local market. This study is intended to assist planning of financial matters with regard to installing small to medium scale renewable projects in remote localities of Bangladesh.