A method of monitoring state of health for an energy generation system includes receiving a measurement of a parameter of an electrical component in the PV energy generation system at an instance in time, referencing a look-up table containing several values of the parameter representing an expected degradation trend across a progression of time for the electrical component, comparing the measurement to an expected value of the expected degradation trend for a period of time corresponding to the instance in time, and initiating a preventative measure based upon the comparison between the measurement and the expected value of the expected degradation trend.