Two-level inverters are the most basic kind of multi-level inverter (MLIs). Total harmonic distortion diminishes as the number of output levels is increased. In classic MLI topologies, more electronic components are utilized to get higher-level outputs, which raises the cost, complexity, and volume of typical MLI installations. By reducing the use of power components, overall costs can be reduced. Further, the two and three-level inverters produce constant dv/dt output, which increases the stress on the power switches. This research proposed an asymmetric MLI topology that is suitable for PV applications and utilizes a minimum number of components. A selective harmonic elimination-based pulse width modulation (SHEPWM) is implemented for the proposed inverter to eliminate the lower-order dominant harmonics. The non-linear transcendental equations produced by the SHEPWM are solved for the switching angles of the proposed inverter using the Newton-Raphson approach. The performance of the inverter is analyzed based on the THD of output for different operating levels of the inverter. In this research, the NR method yielded a THD of 7.3% at a 0.9 modulation index. Also, the proposed inverter is applied to grid-connected solar PV systems for the analysis of THD.T The THD of the grid voltage is measured as 0.06% and the THD of the grid current is 4.8% with the proposed inverter which is acceptable as per the IEEE519 standards.