Ever increasing energy demand ever encourage for new energy production and conservation. In the present work, the cascaded latent heat solar thermal energy storage system has been developed to deliver the heat at different temperature limits and its performance on the improvement of heat transfer characteristics are studied with the use of multiple PCMs with various encapsulation arrangements. The storage system consists of three different PCMs which have different melting temperatures such as D-mannitol, D-sorbitol, and Paraffin wax. Each PCM is encapsulated in different materials of spherical balls like Copper, Aluminium, and Brass. Permanent welding of Fins, inside the encapsulated balls of type rectangular, annular and pin is done for enhanced heat transfer. This work investigates for the best combination of fins which may allow the highest heat transfer rate for the least cost. It has been concluded that the transfer of energy is the highest in the use of Copper balls for encapsulation of PCMs with the attachment of annular fin inside the balls. With respect to Energy cost per kJ of heat transfer, the PCMs encapsulated in Aluminium balls with annular fins may be preferred. However in all the combinations, to gain higher efficiency of the system proper arrangements of all system components very close to each other is essential to the provision of perfect insulated storage tanks and the components of the piping circuit.