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Energy harnessing from renewable energy sources has become more flexible with power electronic technologies. Recent advancements in power electronic technologies achieve converter efficiency higher than 98%. Today, reliable power electronic devices are needed to design a PV-based energy converter (inverter) to reduce the risk of failure and maintenance costs during operation. Wide-bandgap SiC devices are becoming more common in power electronic converters. These devices are designed to reduce switching loss and improve the efficiency of the system. Nevertheless, the cost of SiC devices is a major concern. Hence, to improve the reliability of the PV inverter while considering the economic aspects, this paper develops a highly reliable PV inverter with a hybrid Si/SiC power module that consists of a Si-IGBT with a SiC anti-parallel diode. A test case of a 3 kW PV inverter is considered for reliability analysis. The loading of the PV inverter is done under uncertain environmental conditions by considering the yearly Mission Profile (MP) data related to Ambient Temperature (AT) and Solar Irradiance (SI) at the India and Denmark locations. The effectiveness of the proposed hybrid Si/SiC power module is tested by comparing it with a conventional IGBT power module. The results showcase the marked improvement in PV inverter reliability with the proposed hybrid power module. [ABSTRACT FROM AUTHOR]