The Levelized Cost of Electricity (LCOE) is a techno-economic parameter used to evaluate the cost of a kilowatt-hour of energy produced from a selected power plant. The initial investment, annual operation and maintenance costs, and annual energy production are some of the input data needed to determine the LCOE based on discounting methods. Many of the involved parameters are significantly time- and country-dependent. Moreover, the current diffusion of storage systems is modifying the methodology for the calculation of the LCOE to include costs and impacts of this additional component. This work is focused on the photovoltaic (PV) sector with the aim of updating the current state of the Italian PV market for different market segments (residential, commercial and utilityscale) and investigating the impacts of storage systems on profitability and grid parity achievement. Six different geographical locations are selected to represent the Italian irradiation and specific yield levels.