This paper addresses an economic study of the installation of photovoltaic (PV) solar panels for residential power generation in Santiago, Chile, based on the different parameters of a PV system, such as efficiency. As a performance indicator, the Levelized Cost of Energy (LCOE) was used, which indicates the benefit of the facility vs. the current cost of electrical energy. In addition, due to a high level of airborne dusts typically associated with PM10, the effect of the dust deposition on PV panels’ surfaces and the effect on panel performance are examined. Two different scenarios are analyzed: on-grid PV plants and off-grid PV plants.