Single-stage power conversion with simple circuit arrangement is one of the attractive features of direct bipolar voltage ac-ac converters. This increases their potency in various applications that require voltage and frequency regulation. The grid voltage compensators, direct variable speed ac-ac drives, and induction heating systems require inverting and non-inverting operation of the input voltage. Their size, cost, and circuit complexity directly depend on the number of switching transistors, as the operation of each transistor requires the use of one gate drive circuit (GDC) and one isolated dc power supply (IDCPS). The size and cost of GDC and IDCPS are much larger than that of switching transistors. The use of fewer switching transistors also ensures low conversion losses and simplifies the switching schemes. Therefore, this research proposes a new ac-ac converter that is realized as a bipolar boost ac voltage controller having a low count of switching transistors. The suggested topology also eliminates the shoot-through of the input source or output filtering capacitor. The characteristics of the proposed circuit are explored through simulation results obtained through the Simulink platform. The confirmation of the simulation results is validated through the laboratory prototype.INDEX TERMS AC converter, bipolar voltage, grid voltage compensator, induction heating system, shoot through.