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In this article the performance of a grid-connected PV system supplying a farmstead was evaluated using a commercially available energy balance simulation model, Hybrid2. By performing annual hourly simulations, the influence of system size, actual radiation data, and estimated radiation data on economic and energy production were assessed. The estimated radiation data were developed from kriging actual radiation data from 16 weather stations in western Nebraska. The results indicated that the capital costs associated with a PV system dictate the economic performance of the overall system. The energy costs associated with the grid-connected PV system were six times the retail price of electricity. The use of actual or estimated data had little effect on the simulated performance of the system.