Five 3.25-kWp Photovoltaic Systems were installed in different regions in Peru. Solar irradiance and power output were measured during the entire year of 2019. Based on data registered, solar photovoltaic (PV) performance ratio was assessed for all systems. Analysis of how a variation of the solar irradiation and the power output may affect Levelized Cost Of Energy (LCOE) values was carried out. Implications for end users in terms of expected payback time due to different LCOE values were also assessed. It is concluded that Performance Ratio changes over the year depending on which of the five regions the PV system was installed. Considering average monthly values, calculated for over a year, the highest value corresponds to Site Number 3 (Piura) while the lowest value corresponds to Site Number 2 (Lima Agrarian National University La Molina, UNALM). If LCOE from site Number 3 is considered as a basis for comparison purposes, then LCOE from site Number 2 would be 78.5% more expensive in terms of US$/kWh. Also, if payback time from site Number 3 is considered as a basis for comparison purposes, then payback time from site Number 2 would be 78.5% longer. Therefore, expected performance of a solar PV system, among different regions of the country, is a factor that should be considered when proposing policies and incentives for net metering squemes under distributed generation.