One of the main reasons attributed to the slow uptake of grid-connected residential PV (photovoltaic) systems, is the lack of information about the near-term economic beneﬁts which are as important as long-term viability for residential customers. This paper presents a comparative assessment of the near-term economic beneﬁts of grid-connected residential PV systems. Case studies from the UK and India are taken as examples, as they vary signiﬁcantly in solar resource, customer demands, electricity prices and ﬁnancial support mechanisms. A metric termed PEUC (prosumer electricity unit cost) is proposed to develop an economic evaluation methodology to assess the near-term beneﬁts from PV systems. The results obtained showed that, under the present ﬁnancial support mechanisms, domestic PV systems provide near-term economic beneﬁts in most locations in India. For most locations in the UK, cost reduction is needed to achieve near-term ﬁnancial beneﬁts and this varies depending on the location of installation. The results presented demonstrate the importance of location speciﬁc system planning and demand-generation matching through optimal sizing of the PV system and demand side management.