Solar power is one of the most sustainable cleaner options for energy generation in remote rural locations. Standalone solar power systems will have a significant impact in the future due to their independence from the conventional electric grid. In a standalone photovoltaic power system, the microinverter is one of the crucial sub-systems. In addition to the thermal stress created by the electronic components, the microinverters are exposed to severe outdoor environments with solar panels and, therefore, more prone to failure. This study aims to implement passive radiative cooling techniques to reduce the microinverter’s temperature and improve reliability. This study also presents the scope for improving the performance of a standalone solar power system using bifacial solar panels. The COMSOL Multiphysics model of a microinverter is developed to evaluate its temperature based on the power losses and the mission profile with and without radiative cooling. Subsequently, the failure rate and Mean Time Between Failures (MTBF) are determined using the MIL-217 F manual. The results show that the radiative cooling coating can extend the microinverter’s lifetime by 4–6 years. Furthermore, the lifetime of the microinverter is slightly lower in the case of bifacial panels when compared to monofacial panels.Graphical abstract: Highlights: The passive radiative cooling reduces the temperature of the microinverter by 20–30 K.The radiative cooling increases the lifetime of the microinverter by 4–6 years.The MTBF for the microinverter with a radiative cooling coating is higher than that for the microinverter without a radiative cooling coating.Discussion: The integration of passive radiative cooling techniques in standalone solar power systems raises questions about scalability, practicality, challenges, and opportunities for widespread adoption.Balancing efficiency gains with microinverter lifetime is crucial for achieving sustainable solar energy solutions, as bifacial solar panels present a trade-off between energy yield and system durability.Solar power systems in remote rural areas raise policy and economic questions about equitable access, maintenance, and governmental support, necessitating adaptation of policy frameworks.