The paper describes low-cost hardware-based analog and digital real-time circuit simulators for the development of power electronics control circuits. During the process of designing and developing digital control circuits for power electronics systems, preliminary verification of control algorithms is required. For this purpose, software simulators such as Pspice, Psim, Matlab-Simulink, and many others are commonly used. Afterward, the developed control algorithm is implemented in the digital control system. For further verification of the implemented control algorithms, a hardware-based analog or digital simulator can be utilized. The paper presents the author’s proposed analog simulators. In the digital version of the simulator, TMS320F28388D microcontroller with 200 MHz clock was used. These simulators have demonstrated their usefulness in the development of power electronics systems.