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This paper analyzes and compares three transformerless photovoltaic inverter topologies for three-phase grid connection with the main focus on the safety issues that result from the lack of galvanic isolation. A common-mode model, valid at frequencies lower than 50 kHz, is adopted to study the leakage current paths. The model is validated by both simulation and experimental results. These will be used to compare the selected topologies, and to explain the influence of system unbalance and the neutral conductor inductance on the leakage current. It will be demonstrated that the later has a crucial influence. Finally, a comparison of the selected topologies is carried out, based on the adopted modulation, connection of the neutral and its inductance, effects of unbalance conditions, component ratings, output voltage levels, and filter size.