A multilevel inverter (MLI) with a step-up feature has become significant for connecting a low-voltage PV system with a utility grid. An MLI has been presented in this article with a lower component count. The described structure has achieved nine distinguish voltage levels using 12 switches and a switched capacitor unit having twice voltage boost. A self-balancing of the floating capacitor voltage without any auxiliary circuits and precharging has been obtained. The new topology includes fewer switches, reduced voltage stress, and an inherent reversing polarity without the back-end H-bridge, which has been the additional feature of the proposed circuitry. The topology proposed has been controlled with the nearest level control pulsewidth control technique (NLC-PWM). A comprehensive comparative analysis with several similar topologies has been presented in this article to show the merits of the recommended topology. A number of simulation results using PLECS software have been discussed along with experimental results that have been obtained from a laboratory prototype. The validation of the proposed topology has been carried out using different steady-steady and transient operating conditions.