In this paper, a new power electronic converter is suggested for photovoltaic systems. This power electronic conversion system includes a multi-output DC-DC boost converter and a new multilevel inverter topology. This structure uses less number of components such as power switches, gate drivers and diodes. A comparison is drawn the between proposed inverter topology, classical and other proposed multilevel inverter topologies to represent the merits of the proposed inverter. Fundamental frequency switching method is presented for triggering power switches. Two different topologies are simulated to confirm the operation of proposed structure through MATLAB/Simulink software.