In this research work, a comparative cost analysis of electricity produced by a non-renewable and a renewable energy system is carried out. A 165.4-kWh daily electric load is established on the basis of a community-type profile, with a 20.5-kW peak load and a load factor of 0.34. Using simulation built-in features from HOMER Pro, optimum sizing for both a diesel-based system and a solar photovoltaic system is carried out. A proposed non-renewable energy supply alternative consists of a 23-kW diesel generator, a 40-kWh storage capacity, and a 5.8-kW DC-AC converter. On the other hand, a proposed renewable energy supply alternative consists of a 131-kW solar PV generation, a 427-kWh storage capacity, and a 24.7-kW DC-AC converter. A levelized cost of electricity (LCOE) approach is used for comparison purposes. Also, net present cost (NPC) is calculated for the proposed energy supply alternatives. It is concluded that for comparative cost analysis key aspects, such electric load profile and its correlation with solar radiation availability on hourly basis, play a significant role. However, the incorporation of environmental benefits could overcome some economic feasibility barriers in the near future.