Partial shading and other non-ideal conditions cause electrical mismatches that reduce the output power generated by a photovoltaic (PV) system. It affects the overall performance and efficiency of PV systems. Therefore, a model is developed in MATLAB, which analyses the performance of the PV systems under real irradiance profiles and temperatures for various available mismatch mitigation methodologies, i.e., bypass diode, DC power optimizer, and differential power processing (DPP). More specifically, this study will help to understand the best mismatch reduction methodologies for a solar PV system under different scenarios. The results also are validated by comparing them with a similar PV system installed in SolarTechLAB, which also operates under the same irradiance and temperature conditions under which these models are tested. This study also presents novel results, covering discussions on the reverse voltage distribution under mismatch scenarios among bypass diode, DC power optimizer, and DPP techniques.