The main objective of this paper is to present the validated annual performance analysis with the monitored results from a 5 MWp grid connected photovoltaic plant located in India at Sivagangai district in Tamilnadu. The total annual energy generated was 8495296.4 kW h which averages around 707941.4 kW h/month. In addition to the above, real time performance of the plant is validated through system software called RETscreen plus which employs regression analysis for validation. The measured annual average energy generated by the 5 MWp system is 24116.61 kW h/day which is appropriately close to the predicted annual average which was found to be 24055.25 kW h/day by RETscreen. The predicted responses are further justified by the value of statistical indicators such as mean bias error, root mean square error and mean percentage error. The annual average daily array yield, corrected reference yield, final yield, module efficiency, inverter efficiency and system efficiency were found to be 5.46 h/day, 5.128 h/day 4.810 h/day, 6.08%, 88.20% and 5.08% respectively. The overall absolute average daily capture loss and system loss of the particular system under study is 0.384 h/day and 0.65 h/day respectively. A comparison is also made between the performance indices of solar photovoltaic system situated at other locations from the literature's published. Furthermore the effect of input factors over the output of the system is emphasized by regression coefficients obtained through regression analysis. In-depth analysis dealing with energy and exergy of the system are also included to strengthen the study. (C) 2015 Elsevier Ltd. All rights reserved.