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Photovoltaic (PV) system performance is influenced by several factors, including irradiance, temperature, shading, degradation, mismatch losses, soiling, etc. Shading of a PV array, in particular, either complete or partial, can have a significant impact on its power output and energy yield, depending on array configuration, shading pattern, and the bypass diodes incorporated in the PV modules. In this paper, the effect of partial shading on multicrystalline silicon (mc-Si) PV modules is investigated. A PV module simulation model implemented in P-Spice is first employed to quantify the effect of partial shading on the I-V curve and the maximum power point (MPP) voltage and power. Then, generalized formulae are derived, which permit accurate enough evaluation of MPP voltage and power of mc-Si PV modules, without the need to resort to detailed modeling and simulation. The equations derived are validated via experimental results.