This paper presents a comprehensive feasibility study of an interleaving approach for a quasi-Z-source inverter. The state-of-the-art approach revealed that an interleaving approach is often used to improve the efficiency and power density that can overcome the problem of oversized passive elements of quasi-Z-source-based converters. The focus is on the application of the interleaving approach in terms of the comparison of several important parameters of a quasi-Z-source inverter. Our analysis includes losses, capacitor and inductor sizes, as well as semiconductor costs. The theoretical comparison is based on the quasi-Z-source inverter model and the losses model. Simulation and experimental verification of theoretical statements are provided. It was found that a 40% reduction of inductor volume, along with 15–20% of efficiency improvements, are achievable. The results are discussed in the conclusion.