This paper presents the analysis and comparison of maximum power point tracking (MPPT) algorithms namely Perturb and Observe (P and O) and Incremental Conductance methods for standalone PV system. These two algorithms are compared under different step size and sampling time based on settling time and magnitude of oscillation. This type of comparison is useful in identifying the optimal value of step size and sampling time with respect to settling time. An improved circuit oriented model of PV panel along with boost converter is developed using MATLAB/SIMULINK environment to test the two algorithms. The simulation results shows that the maximum efficiency of the solar panel is achieved by using optimal values. © International Science Press.