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There is a strong trend in the photovoltaic inverter technology to use transformerless topologies in order to acquire higher efficiencies combining with very low ground leakage current. In this paper, a new topology, based on the H-bridge with a new ac bypass circuit consisting of a diode rectifier and a switch with clamping to the dc midpoint, is proposed. The topology is simulated and experimentally validated, and a comparison with other existing topologies is performed. High conversion efficiency and low leakage current are demonstrated.