Solar Photovoltaic Power Plants are capable of supplying the world's energy demand since many years. Alongside, energy production the solar photovoltaic panel also suffers from the challenges of shading. Moreover, shading results in curtailment of net electricity production. In addition the shading effect also creates thermal hotspots, junction diode failures which eventually results in long degradation as well as fire threat for PV panels. This paper presents the effect of shading on 15 kW solar photovoltaic plant. Simulation studies are conducted and the results are presented for parameters viz. Performance ratio, Net Present Value, Return on investment. From the simulation studies, it is observed that comparison of the unshaded and shaded system results in the decrease in Performance ratio from 73% to 72.8% (0.2%), Net present value curtail from 80885.09 to 80651.43(0.003%), Return on investment decreases from 808.9% to 806.5 % (0.003%).