What specific type of application are you considering? And do you have a link to a datasheet for the particular product?
PVC coated MC may be code compliant for direct-burial runs between ground-mount arrays, combiners, inverters, etc., assuming it is listed for direct-burial. With that said, I'd argue it's not a good idea except for 'behind the fence' installations that can only be accessed by qualified personnel.
It is not suitable for exposed wiring on PV arrays themselves. The code pretty clearly limits you there to USE-2 or PV wire.
If you're considering using it inside a building, you need to look at the restrictions in 690.31(E)(2). And you should realize that jurisdictions that are not yet on the 2011 NEC or equivalent may not allow it at all.
Personally I don't believe that any PVC product is a good idea for locations exposed to direct sunlight, even if the product claims to be sunlight resistant.
