Power supplies are one of the crucial building blocks of a modern society, converting high-voltage alternating current (AC) into low-voltage direct current (DC) for use by the electronic circuits in office equipment, telecommunications, and consumer electronics. Over 2.5 billion AC/dc power supply are currently in use in the United States alone. About 6 to 10 billion are in use worldwide.

While the best power supplies are more than 90% efficient, some are only 20 to 40% efficient, wasting the majority of the electricity that passes through them. As a result, today's power supplies consume at least 2% of all U.S. electricity production. More efficient power supply designs could cut that usage in half, saving nearly $3 billion and about 24 million tons of carbon dioxide emissions per year.