The dynamic development of photovoltaic systems in the world and in Poland is mainly related to the drop in prices of installation components. Currently, electricity from photovoltaics is one of the cheapest renewable energy sources. The basis for effective energy generation is, first of all, failure-free operation of the photovoltaic system over a long period of operation, up to 30 years. The paper presents the results of a study of a low-cost distributed system for monitoring and diagnosis of photovoltaic installations (SmartPV), capable of assessing the operating parameters of individual photovoltaic panels. The devices were tested by connecting them to an existing photovoltaic installation, allowing the measurement of operational parameters of individual photovoltaic panels as well as operating conditions such as illuminance and panel surface temperature. The data were recorded on a server using wireless Wi-Fi transmission. Interesting data were collected during the tests, confirming the usefulness of the suggested device for monitoring the photovoltaic installations. Differences in performance of the photovoltaic panel depending on solar radiation and surface temperature were recorded. The temperature coefficient of power was determined, allowing for increased accuracy in the prediction of generated power. The correct recording in different situation, i.e., shading, sensor damage or weather anomalies, was verified. Based on the collected data, rules will be defined for an expert application which, in combination with SmartPV devices, will ensure a quick response to any malfunctions of the photovoltaic system, both related to failures and those resulting from natural degradation during operation.