A wind generator system requires a power conversion circuit called a power converter that is capable of regulating the generator frequency and line voltage. Several types of converter topologies have been developed over the past decades; each of them has its own advantages and disadvantages. Currently, there are mainly two converter topologies used in industrial wind turbines. Most of the proposed converters require line filters and transformers to improve the power quality and raise the voltage level accordingly. These heavy and bulky components add significantly to tower construction, turbine installation and maintenance costs. Recent advances in power semiconductors and magnetic materials have led to the development of new converter designs that could be a possible solution to reduce the size, weight and cost of power converters. This article provides an in-depth study of energy converter technology, ongoing research and development.