Quazi Z source inverter has an advantage that it can boost or buck voltage to be given to an inverter. Operation of a QZSI is similar to a Z source inverter (ZSI). A conventional photovoltaic application uses a two-stage topology of boost converter and an inverter. A QZSI can be replaced for a two-stage topology to serve the purpose. A 3 KW single phase QZSI is designed and simulated for a standalone photovoltaic system in this paper. The results for total harmonic distortion (THD) of output voltage and mean time between failure (MTBF) of the overall system is compared with a conventional ZSI and two-stage topology for the same rating. MTBF of the overall system is computed using reliability block diagram method. Reliability curve is also plotted for all the three considered topologies.