In this paper, life cycle analysis has been carried out to evaluate overall performance of given rated stand-alone solar photovoltaic (SAPV) in terms of basic energy matrices, life cycle cost analysis, and earned carbon credit. Further, the experimentally calculated actual on-field life cycle performance results of existing outdoor SAPV system (i.e. almost 20 years old) have been represented with respect to the potential (max.) performance of same SAPV system estimated under same environmental conditions of solar intensity, ambient temperature, PV operating temperature as obtained during actual on-field performance evaluation. This new approach of overall performance evaluation by considering the on-field SAPV system installation as new (i.e. with potential/max. performance) and old (i.e. with actual performance) under same environmental conditions provides an inclusive comparative life cycle assessment of on-field PV system. (C) 2013 Elsevier Ltd. All rights reserved.