The Single-Stage Grid-Connected Solar Photovoltaic (SSGC-SPV) topology has recently gained significant attention, as it offers promising advantages in terms of reducing overall losses and installation costs. We provide a comprehensive overview of the system components, which include the photovoltaic generator, the inverter, the Incremental Conductance Maximum Power Point Tracking (IC-MPPT) algorithm, and the PI regulator for DC bus voltage control. Moreover, this study presents detailed system configurations and control schemes for two types of inverters: 2L−3PVSI and 3L−3PNPC. In order to perform a comparative study between the two structures, we subjected them to the same irradiation profile using the same grid configuration. The Photovoltaic Array (PVA) irradiance is increased instantaneously, in 0.2 s, from 400 W/m2 to 800 W/m2, is kept at 800 W/m2 for 0.2 s, is then gradually decreased from 800 W/m2 to 200 W/m2 in 0.2 s, is then kept at 200 W/m2 for 0.2 s, and is then finally increased to 1000 W/m2 for 0.2 s. We explain the operational principles of these inverters and describe the various switching states involved in generating output voltages. To achieve effective control, we adopt the Finite Set–Model Predictive Control (FS-MPC) algorithm, due to the benefits of excellent dynamic responsiveness and precise current tracking abilities. This algorithm aims to minimise the cost function, while taking into account the dynamic behaviour of both the PV system and the inverter, including any associated delays. To evaluate the performance of the FS-MPC controller, we compare its application in the three-level inverter configuration with the two-level inverter setup. The DC bus voltage is maintained at 615 V using the PI controller. The objective is to achieve a Total Harmonic Distortion (THD) below 5%, with reference to the IEEE standards. The 2L−3PVSI inverter is above the threshold at an irradiance of 200 W/m2. The 3L−3PNPC inverter offers a great THD percentage, meaning improved quality of the power returned to the grid.