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This paper proposes a new 3 level common mode voltage eliminated inverter using an inverter structure formed by cascading a H-Bridge with a three-level flying capacitor inverter. The three phase space vector polygon formed by this configuration and the polygon formed by the common-mode eliminated states have been discussed. The entire system is simulated in Simulink and the results are experimentally verified. This system has an advantage that if one of devices in the H-Bridge fails, the system can still be operated as a normal 3 level inverter mode at full power. This inverter has many advantages like use of single DC-supply, making it possible for a back to back grid-tied converter application, improved reliability etc.