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This paper investigates the integrated buck-flyback converter (IBFC) as a good solution for implementing low-cost high-power-factor ac-dc converters with fast output regulation. It will be shown that, when both buck and flyback semistages are operated in discontinuous conduction mode, the voltage across the bulk capacitor, which is used to store energy at low frequency, is independent of the output power. This makes it possible to maintain the bulk capacitor voltage at a low value within the whole line voltage range. The off-line operating modes of the IBFC are also investigated to demonstrate that the control switch of the proposed converter handles lower root-mean-square currents than those in similar integrated converters. The off-line operation of the IBFC is analyzed to obtain the design characteristics of the bulk capacitor voltage. Finally, the design and experimental results of a universal input 48 V-output 100 W ac-dc converter operating at 100 kHz is presented. Experiments show that the IEC-61000-3-2 input current harmonic limits are well satisfied and efficiency can be as high as 82%.