The paper presents an analytical approach to the determination of losses in each of thesub-systems of the Photovoltaic (PV) Permanent Magnet DC Motor (PMDC) drive waterpumping system with and without maximum power tracking. The losses of the system atvarying heads are firstly, determined using parameters from the data sheets and thenvalidated by experimental results. The results are used to establish the head and the flowrate optimal operating point of the system.