Dynamic rating of the transformer is a promising technology, which is suitable for various applications. Using dynamic rating for connecting renewable energy is believed to be beneficial for the economy and flexibility of the power system. However, to safely deploy such operation strategies, it is important to have more precise estimates for the total costs of owning such units and determine how effective such operation method is for a solar power plant. This study proposes a method for calculating total ownership costs (TOC) of dynamically rated transformers used for the connection of the solar power plant to the grid as well as analyzes its efficiency. The sensitivity analysis looks into the change in TOC and peak efficiency index (PEI) after considering reactive power dispatch. Results of this study also show how TOC, PEI, and load and no-load losses change depending on the transformer size.