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The cost and efficiency of a photovoltaic (PV)-based grid-connected system depends upon the number of components and stages involved in the power conversion. This has led to the development of several single-stage configurations that can perform voltage transformation, maximum power point tracking (MPPT), inversion, and current shaping-all in one stage. Such configurations would usually require at least a couple of current and voltage sensors and a relatively complex control strategy. With a view to minimize the overall cost and control complexity, this paper presents a novel MPPT scheme with reduced number of sensors. The proposed scheme is applicable to any single-stage, single-phase grid-connected inverter operating in continuous conduction mode (CCM). The operation in CCM is desirable as it drastically reduces the stress on the components. Unlike other MPPT methods, which sense both PV array's output current and voltage, only PV array's output voltage is required to be sensed to implement MPPT. Only one current sensor is used for shaping the buck-boost inductor current as well as for MPPT. The information about power output of the array is obtained indirectly from array's voltage and the inductor current amplitude. Detailed analysis and the flowchart of the algorithm for the proposed scheme are included. Simulation and experimental results are also presented to highlight the usefulness of the scheme.