A method for monitoring operation of a solenoid valve having an armature and a poppet coupled to the armature includes the steps of energizing a coil in the valve to generate a current signature reflecting current vs. time, detecting a first inflection point in the current signature, wherein the first inflection point occurs when the armature starts to move from one of the open and closed positions toward the other of the open and closed positions, and detecting a second inflection point in the current signature. The second inflection point occurs when the armature moves completely to the other of the open and closed positions. In one embodiment, the first inflection point indicates when the valve begins to open, making it possible to accurately determine the elapsed opening time of the valve.