The invention is for a new power electronic converter topology suitable for modularly configured solar photovoltaic or battery storage applications. Its highest value is seen within the space of battery storage applications where the topology offers unprecedented levels of electrical power process conversion efficiencies, with preliminary prototypes offering efficiencies on the order of 99%. Unlike competing technologies that typically address only a subset of system level and battery features, the proposed topology addresses all features that are viewed as critical for the formation of scalable energy storage systems. The topology also employs the lowest volume of magnetic components of any battery storage converters developed to date, save for switch capacitor circuits that suffer from drastically higher conversion losses. This makes the topology suitable not only for stationary battery storage applications, but also a premiere candidate for mobile applications, such as hybrid or electric vehicles.