The cascaded multilevel inverter (CMI) is one type of common inverter in industrial applications. This type of inverter can be synthesized either as a symmetric configuration with several identical H-bridge (HB) cells or as an asymmetric configuration with non-identical HB cells. In photovoltaic (PV) applications with the CMI, the PV modules can be used to replace the isolated dc sources; however, this brings inter-module leakage currents. To tackle the issue, the single-source CMI is preferred. Furthermore, in a grid-tied PV system, the main constraint is the capacitive leakage current. This problem can be addressed by providing a common ground, which is shared by PV modules and the ac grid. This paper thus proposes a topology that fulfills the mentioned requirements and thus, CMI is a promising inverter with wide-ranging industrial uses, such as PV applications. The proposed CMI topology also features high boosting capability, fault current limiting, and a transformerless configuration. To demonstrate the capabilities of this CMI, simulations and experimental results are provided.