The amount of the conventional energy sources is decreasing day by day. Here in Bangladesh, the main source of energy generation is natural gas. To avoid the upcoming energy crisis, we need to incorporate the renewable energy sources with which Bangladesh is blessed due to its geographical location. Bangladesh has a very good prospect for the solar Photovoltaic integration. The technical potential of grid-connected solar PV in Bangladesh was calculated as about 50,174 MW. Researches are needed to be conducted for modeling optimized grid connected solar photovoltaic system. This paper makes an attempt to model a cost efficient grid connected PV system and performs its economic analysis for Bangladesh.