The design of multilevel inverters finds an optimum space in the photovoltaic power generation system, grid integrated renewable power networks, power trains, fuel cell power generation, motor drive systems, etc. This attracts researchers to develop multilevel inverters with low cost and compact size, but deigning a low cost multilevel inverter with a reduced size is a challenging work. In this chapter, a detailed study of various multilevel inverters is carried out in terms of utilization of multilevel inverters in sustainable energy applications, types of late multilevel inverter, a brief study of recent designs of multilevel inverters with respect to harmonic presence in the output voltage waveform. An examination on recent symmetric and asymmetric voltage source inverters is analysed in terms of number of voltage levels the design can generate.