A power supply system comprising: an input configured to receive input AC power from an input power source; an output configured to provide output AC power to a load; a converter coupled to the input and configured to convert the input AC power into converted DC power, the converter including at least one first switch (116, 118) coupled between the input and a neutral point, and the converter being configured to receive an input current from the input; a first DC bus coupled to the converter and configured to receive the converted DC power; an inverter coupled to the first DC bus and the output and configured to convert DC power from the first DC bus into the output AC power, the inverter including at least one second switch (120, 122) coupled between the first DC bus and the output, the inverter further including at least one third switch (124, 126) coupled between the neutral point and the output and the inverter being configured to provide an output current to the output; a first DC switch circuit coupled between the first DC bus and the neutral point; a capacitor selectively coupled to the first DC bus via the first DC switch circuit; and a controller coupled to the first DC switch circuit and configured to operate switching of the at least one first switch to generate the DC power, to operate switching of the at least one second switch and the at least one third switch to generate the output AC power, and further configured to turn off the DC switch circuit at a first time before the synchronized switching period of turn-on switching of the at least one first switch and turn-off switching of the at least one second switch such that voltage on the first DC bus is zero relative to the neutral point during switching operation of the at least one first switch and the at least one second switch when the output current is greater than the input current, such that voltage across the at least one first switch is zero during turn-on switching and voltage across the at least one second switch is zero during turn-off switching. an input configured to receive input AC power from an input power source; an output configured to provide output AC power to a load; a converter coupled to the input and configured to convert the input AC power into converted DC power, the converter including at least one first switch (116, 118) coupled between the input and a neutral point, and the converter being configured to receive an input current from the input; a first DC bus coupled to the converter and configured to receive the converted DC power; an inverter coupled to the first DC bus and the output and configured to convert DC power from the first DC bus into the output AC power, the inverter including at least one second switch (120, 122) coupled between the first DC bus and the output, the inverter further including at least one third switch (124, 126) coupled between the neutral point and the output and the inverter being configured to provide an output current to the output; a first DC switch circuit coupled between the first DC bus and the neutral point; a capacitor selectively coupled to the first DC bus via the first DC switch circuit; and a controller coupled to the first DC switch circuit and configured to operate switching of the at least one first switch to generate the DC power, to operate switching of the at least one second switch and the at least one third switch to generate the output AC power, and further configured to turn off the DC switch circuit at a first time before the synchronized switching period of turn-on switching of the at least one first switch and turn-off switching of the at least one second switch such that voltage on the first DC bus is zero relative to the neutral point during switching operation of the at least one first switch and the at least one second switch when the output current is greater than the input current, such that voltage across the at least one first switch is zero during turn-on switching and voltage across the at least one second switch is zero during turn-off switching.