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This paper evaluates switching and conduction losses of a direct AC fed converter for switched reluctance machine drives. The commutation process of the converter employing space vector modulation is analyzed, and the switching losses associated with "hard" turn-on and "hard" turn-off events are quantified based on experimentally validated device characteristics. It is shown that for a given dc load current, the switching loss varies with the voltage stress across a device, whilst the conduction loss is independent of the input voltage and modulation index. The total converter loss over a fundamental electrical period is obtained by taking the average value of the switching and conduction losses over 60 0 electrical period.