Due to rapid growth of photovoltaic (PV) technology and government incentives towards renewable energy sector there is rapid fall in price of PV energy. Therefore, PV energy is becoming very popular power source in worldwide energy segment. The current-voltage (I-V) and power-voltage (P-V) characteristics of a PV panel/module are non-linear in nature and highly dependent on changing irradiation and temperature of the panel. To extract maximum power from the PV module and to enhance its efficiency maximum power point tracking (MPPT) is inevitable. PV power plants (PVPPs) are being integrated into the power system at an ever-increasing rate, which puts pressure on power system operators to impose new standards to maintain the grid’s quality and reliability. Either high PV penetration or ancillary condition to the power system leads to overloading and instability of the grid system. The mismatching in power generation and load requirements causes frequency deviation, voltage rise, reverse power flow, loss of inertia in the PV interconnected grid system. To overcome these issues, there is a need to design a control scheme for flexibly regulating the PV array’s output power according to the grid requirement. In this paper, review of different type of MPPT and flexible power point tracking (FPPT) algorithms has been described to address the issue of enhancement of power and stability of the power system respectively. It has been observed that FPPT method is more efficient and perform well under various load conditions.