This paper presents a new concept of moduleintegrated converters called PVbalancers for photovoltaic applications. The proposed concept enables independent maximum power point tracking for each module, and dramatically decreases the requirements in terms of electrical rating, size, and manufacturing cost for power converters. The power rating of a PV balancer is less than 20% of its counterparts, and the manufacturing cost is thus significantly reduced. In this paper, two architectures of PV balancers are proposed, analyzed, realized, and verified through simulation and experimental results. It is anticipated that the proposed approach will be a low-cost solution for future photovoltaic power systems. [ABSTRACT FROM AUTHOR]