This research introduces a cost-effective converter for single-phase machines, aiming to enhance efficiency and reduce energy consumption in retrofit applications. Single-phase motors commonly found in household appliances often suffer from low efficiency, resulting in wasted energy. To tackle this problem, a dedicated converter was proposed to replace the existing capacitors and improve the motor performance. This study presents a proof of concept for retrofit applications, discussing the converter design methodology and prototype evaluation. Additionally, a cost analysis comparing single-phase and three-phase motors is included. It aims to demonstrate the long-term cost savings and improved energy efficiency of the proposed converter. The findings highlight the converter’s potential as a promising solution for enhancing energy efficiency and decreasing costs in single-phase motor applications.