Technological advances, environmental awareness and, in several countries (including the UK), financial incentives lead to the adoption of PV (photovoltaic) systems. Economic viability, an important consideration for investment in residential PV, is dependent on the annual energy yield which is affected by distribution network based factors such as point of connection to network, network hosting capacity, load profiles etc. in addition to the climate of the location. A computational algorithm easy on resources is developed in this work to evaluate the effects of distribution network on the annual energy yield of residential PV systems under scenarios of increasing PV penetration. A case study was conducted for residential PV systems in Newcastle upon Tyne with a generic UK distribution network model. Results identified penetration levels at which PV generation curtailment would occur as a consequence of network voltage rise beyond grid limits and the variation in the percentage of annual energy yield curtailed among the systems connected to the network. The volatility of economic performance of the systems depending on its location within the network is also analysed. The study also looked at the impact of the resolution of PV generation profiles on energy yield estimates and consequently economic performance.