This invention can be used to replace or upgrade the existing off-grid photovoltaic (PV) system and use it to power the buildings without depending on the national grid with higher efficiency than the existing off-grid systems and cost effectively. The invention connects a PV array, supercapacitor bank and solar battery charge controller in series configuration to enhance the system efficiency. The overall system is a supercapacitor-battery hybrid energy storage system-based PV system, including maximum power point tracking (MPPT). A DC microgrid based application of LED lighting scheme has been presented with this system to dynamically manage the power flow within the system itself. Electronic switches are being used in this system to intelligently switch the system between different operating modes based on the states of charge of the supercapacitor bank and battery bank and power output from the PV array. Discussion is currently on-going with the Orel Corporation (Pvt) Ltd to commercialize this system through license agreement. Since this is a system, not a standalone device, it is expected to carry out a field test through a pilot project in collaboration with the industry partner. This invention is protected under SL Patent No. 21483.