The overall performance of any solar energy project largely depends upon the available solar radiations, inclination and orientation of solar collectors. Presented in this paper is the analytical study on optimum tilt angles and lifetime differential savings for a distributed 200 kW grid connected mono-crystalline solar PV system operating at Khatkar Kalan, Punjab, India. The optimum tilt angles for monthly, seasonally and yearly basis is carried out by searching the values of tilt angle for which electric power output is maximum for a particular day or a specific period using energy conversion model. The results reveal that the yearly optimum tilt angle for the SPV plant at Khatkar Kalan is 36° which is 4.58° higher than the latitude angle. The power output from the array increases with increase in angle of tilt for winter months whereas the trend is reverse for the summer months. In winter months the maximum power output is achieved for the array surface with a tilt of angle 13° - 23° higher than the local latitude while for summer months the maximum power output is achieved at 16° lower than the latitude angle. The optimum tilt angles maximizing monthly power output for south facing surface shows that the monthly optimum tilt angle varies from 15° to 55°. Also the parametric analysis for some influential factors such as latitude of location and reflectivity of ground surface is explored.