Photovoltaic (PV) systems, as well as other renewable energy systems, strive to be both energy efficient and cost competitive in order to emerge as a prominent mode of electricity production. However, conversion efficiency, defined as the percentage of solar insolation converted to electricity, has been one of the primary performance metrics for evaluating alternative PV technologies. Unfortunately, conversion efficiency only addresses the operational energy efficiency of a PV device. A more comprehensive energy analysis includes the total life-cycle of the PV system, encompassing raw material production, manufacturing, use, maintenance, and end-of-life management. Having this in mind, the aim of this paper is to provide a closer insight on the energy consumption intensity of the relevant processes from resource production processes to the end of life management of PV modules. In this paper a theoretical, conceptual and above all holistic model for life cycle energy analysis has been introduced and analysed, while the crucial process points, relevant in terms of energy recovery are identified and presented.