This paper presents a decoupled active and reactive power control scheme for grid-tied quasi-impedance source cascaded multilevel inverter (qZS-CMI). For photovoltaic (PV) applications, the proposed control scheme is based on an enhanced finite-set model predictive control (MPC) to harvest the desired active power from the PV modules with the ability to provide the ancillary services for the grid. The proposed control scheme has two modes of operation: normal grid mode and low voltage ride through (LVRT) mode. In normal grid mode, the controller commands the qZS-CMI to operate at the global maximum power point (MPP). The proposed technique regulates the impedance network’s current and voltage according to the MPP of PV strings and grid current/voltage requirements. In LVRT mode, the controller commands the qZS-CMI to provide the required reactive power to the grid during voltage sags as an ancillary service from the inverter as imposed by the grid codes. The main features of the proposed system include the global MPP operation during normal grid condition, LVRT capability during a grid voltage sag, mitigation of the PV modules mismatch effect on overall energy harvesting, seamless transition between a normal grid and LVRT modes of operation, and an efficient predictive controller that exploits the model redundancies in the control objectives. Several real-time experiments are conducted to verify the system performance with transients in both the solar irradiance and the grid voltage.