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The idea of power electronic transformer is known already over 20 years. There are numerous papers written about power electronic transformers. In the literature one can find tens on different topologies, control methods, standards, requirements etc. It is easy to loose insight what topology to use and where. In this paper a general overview of the power electronic transformer technology in terms of smart grids is presented. The information collected from the literature is classified and organized. In conclusion some generalizations are made and development trends are shown.