In this work a reduced component count single sourced based multilevel inverter (SSMLI) is proposed. The inverter is essentially designed for the modular version which means it can be utilized for any number of levels to achieve the desired power quality. There are two types of modulation and control strategies are used for the feasibility study of the proposed inverter. At first, multi-carrier pulse width modulation (MCPWM) strategy is realized to visualize the high frequency control. After that low frequency based SHE control through artificial neural network (ANN) algorithm is proposed. The power quality i.e. total harmonic distortion (THD) is compared for both the control techniques to understand the improvement of power quality for the designed inverter. For the simulation and descriptive analysis the 9 level inverter is selected and realized. The proposed inverter will be suitable for renewable power generation especially for stand-alone solar PV applications.