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Direct current (dc) microgrids have been widely used in many critical applications. Such systems avoid unnecessary ac/dc conversions and can simplify control design. To achieve high-performance control of such system, advanced control algorithm needs to be designed. This paper presents a novel decentralized output constrained control algorithm for single-bus dc microgrids. The control objectives are to realize high-performance control of dc bus voltage, user-defined load sharing, and circulating current minimization. Unlike conventional control algorithms, the control algorithm can guarantee not only convergence but also bounded transient tracking error. By transforming the constrained system into an unconstrained system, the transient response of dc bus voltage can always stay within user-defined, time-varying bounds. Convergence of the transformed system can meet any transient performance …