In this paper, a new symmetric multilevel inverter is proposed. A simple structure for the cascaded multilevel inverter topology is also proposed, which produces a high number of levels with the application of few power electronic devices. The symmetric multilevel inverter can generate 2n+1 levels with a reduced number of power switches. The basic unit is composed of a single and double source unit (SDS-unit). The application of this SDS-unit is for reducing the number of power electronic components like insulated gate bipolar transistors, freewheeling diodes, gate driver circuits, dc voltage sources, and blocked voltages by switches. Various new algorithms are recommended to determine the magnitude of dc sources in a cascaded structure. Furthermore, the proposed topology is optimized for different goals. The proposed cascaded structure is compared with other similar topologies. For verifying the performance of the proposed basic symmetric and cascaded structure, results from a computer-based MATLAB/Simulink simulation and from experimental hardware are also discussed.