Deployment of photovoltaic technology in Slovakia has been for many years lacking behind its potential, liabilities towards European Union, as well as behind development in the neighboring countries. Only at the end of year 2009, relevant legislation came into force, which made photovoltaics a feasible way of electricity production in Slovakia. Nevertheless a cap in installed capacity of larger systems was introduced by the National Transmission System Operator shortly afterwards, which again limited the potential contribution of PV to the energy mix of Slovakia. One of possible ways how to increase the share of electricity produced from photovoltaics on the total electricity production without breaking this cap is to use tracking photovoltaic systems, which are able to produce more electricity per unit of installed capacity. Objective of this master thesis was to verify, if using tracking photovoltaic systems instead of fixed systems in the conditions of Slovak republic is an economically viable way how to achieve this goal. This verification was realized by comparing horizontal single-axis tracking system with an optimally inclined fixed system, especially in terms of energy yields, investment costs and economical performance. The results show that application of single-axis tracking system is capable of increasing the share of renewable electricity on the total electricity production in SR. Moreover, it is indeed an economically attractive option for solar electricity production in every part of Slovak republic, and actually more attractive than application of fixed system, since the key compared criteria - internal rate of return, net present value and simple payback period show better results for the tracking system than for the fixed system. Nevertheless, application of tracking photovoltaic systems itself will certainly not be enough in order to fulfill the targets set for Slovakia by the European Union with regards to utilization of renewable sources of energy. Only adoption of truly supportive legislation, creation of attractive economical environment for investors and removal of barriers can achieve this goal.