Nowadays, due to advancements in power electronic devices as well as the rise in consumer awareness of the need to protect the environment on a global scale, many people are turning to the use of solar photovoltaic (PV) technology in the distributed power generation side. In the field of power electronics, manufacturers need to develop products that have high lifespans. Power electronic device reliability is important for the maintenance of the device and may be scheduled under that information. Rather than preventing failures, reliability can be improved by predicting them. Even though some research has been conducted over the past few years to investigate the reliability of power electronic devices, the reliability is many common circuits has not been investigated and this leads to a big challenge for researchers. In this review paper, an overview of the grid-connected multilevel inverters for PV systems with motivational factors, features, assessment parameters, topologies, modulation schemes of the multilevel inverter, and the selection process for specific applications are presented. In this paper, the findings of a comprehensive reliability analysis of fundamental multilevel inverters are studied. To evaluate the reliability of three basic multilevel inverters, a calculation is made using each component’s mean time before its failure. Two techniques of computation approximate and exact were used to arrive at the final result. To calculate power losses in temperature-sensitive components such as diodes and switches, MATLAB Simulink is employed. In addition, the concept of oversizing photovoltaic (PV) arrays is presented in this study. This concept proposes that energy output may be increased by increasing the size of the PV array under conditions of poor solar irradiation. Finally, the mission-profile-based and Monte Carlo simulation-based methods process flows are discussed for the accurate lifetime prediction and reliability assessments of PV inverters in a real-time scenario, followed by a conclusion with future work.

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