This paper discusses the importance and application of modular multilevel converter (MMC) in the field of power conversion. Firstly, the article starts with the basic concept of MMC and introduces its key role in high-power electrical energy conversion. Subsequently, to address the complexity of MMC, the article describes in detail the common topologies of MMC, including diode-clamped multilevel topology, flyover capacitor topology, H-bridge cascade topology, and switched-capacitor multilevel topology, and also emphasizes the different scenarios in which they are applied to power systems. The last section describes the capacitor voltage balancing strategy in MMC. Several common capacitor voltage balancing strategies, including hardware clamping method, capacitor voltage closed-loop method, and capacitor voltage sequencing method, are comprehensively discussed in this paper, and the principles, advantages, disadvantages, and applicability of each strategy are thoroughly analyzed. Ultimately, this article offers academics and engineers a thorough review of MMC and offers valuable references for further study and real-world applications in the areas of power system conversion and energy management.
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