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A 5V/1V switched capacitor (SC) DC-DC converter designed for a 0.18 μm CMOS process is analyzed in detail, in this paper. Analytical equations are derived for the voltages and currents through the main components of the SC converter. The model includes switches, capacitors, equivalent series resistances and the load. The switches in the converter are represented by MOSFETs in the UMC 0.18 μm CMOS process. The impact of system parameters on output voltage ripple is studied using the analytical expressions.