This article presents a new SSTB-MLI with 3 times voltage boosting capability for medium voltage applications with optimal efficiency. Single DC source MLI topologies are more appropriate for many applications, including grid applications and renewable energy (RE) conversion systems than multiple DC source MLI topologies. The ability of switched-capacitor multi-level inverters (SCMLIs) to raise voltage has made them more and more popular in recent years. LS-PWM technique is used for the switching scheme. Two capacitors are employed in SSTB topology to operate alternatively in charging and discharging states at the carrier frequency of this LS-PWM algorithm for making the levels of output voltage. Comparing this innovative topology to those documented in the literature. It can also minimise the number of switches and capacitors needed, their voltage stresses, and switching loss. Since the suggested topology includes built-in capacitor voltage balancing, no additional voltage balancing circuit is required. Applications requiring industrial drives as well as grid-connected and R, RL loads can employ the suggested architecture. Based on less TSV (total standing voltage), MSV (Maximum standing voltage), the number of components used, optimum efficiency 98.43%, and other factors, a comparative analysis is done between the existing topology and the proposed topology. Experimental data and thorough simulation are used to verify the suggested switched capacitor multilevel topology.