A method and an arrangement of tracking a selected (e.g., maximum) power point of a photovoltaic system is disclosed, in which method an operation point of the photovoltaic system is changed based on the change of operation point and a change of power generated by the photovoltaic system. The method can include repeatedly determining a current or voltage of the photovoltaic system, determining a power of the photovoltaic system, determining a change of power of the photovoltaic system with respect to a previous determined power, and changing the operation point of the photovoltaic system by changing a current or voltage reference of the system stepwise depending on the change of power and a direction of a previous change of the current or voltage reference.