SummaryA DC to AC converter is developed in this paper. This proposes a single‐phase five‐level inverter is developed in such a way that one DC source is used. The structure of the inverter is modular and the capacitor has self‐voltage balancing capability, which eliminates the need for sensors or an additional control loop. This paper presents the schematic diagram of the proposed topology, principle of operation, and the concepts of sinusoidal pulse width modulation (SPWM) for single‐phase and space vector pulse width modulation (SVPWM) for three‐phase. To further prove the advantage, power loss, and parameter computations are calculated mathematically. Low‐voltage stress is achieved in the proposed topology because the blocking voltages of all the switches are constrained to the input voltage. A comparison table is presented between SPWM and SVPWM schemes in three‐phase inverter. The proposed asymmetrical five‐level configuration setup is constructed, and experiments are performed inside the laboratory. The controller of the converter has been implemented in the field‐programmable gate array (FPGA) platform. In order to confirm the viability of the suggested topology, experimental results are provided for single‐phase arrangement. By using the FPGA platform, real‐time implementation is done for a three‐phase inverter topology.