A multi-stage multi-level AC-AC converter is disclosed. The present multi-level multi-level AC-AC converter includes a plurality of single-phase AC-AC converters each including two switch pairs and coupling inductors, and a plurality of single-phase AC- AC-AC converter, each of the plurality of single-phase AC-AC converters forms a current path from the power source to the ground via the coupling inductor, in a switched state in which both of the two switch pairs are on or off .
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