Photovoltaic (PV) systems have significantly shifted from independent power generation systems to a large-scale grid-connected generation systems in recent years. The power output of PV systems is affected by the reliability of various components in the system. This study proposes an analytical approach to evaluate the reliability of large-scale, grid-connected PV systems. The fault tree method with an exponential probability distribution function is used to analyze the components of large-scale PV systems. The system is considered in the various sequential and parallel fault combinations in order to find all realistic ways in which the top or undesired events can occur. Additionally, it can identify areas that the planned maintenance should focus on. By monitoring the critical components of a PV system, it is possible not only to improve the reliability of the system, but also to optimize the maintenance costs. The latter is achieved by informing the operators about the system component's status. This approach can be used to ensure secure operation of the system by its flexibility in monitoring system applications. The implementation demonstrates that the proposed method is effective and efficient and can conveniently incorporate more system maintenance plans and diagnostic strategies.