The paper proposes a novel topology for a cascaded multilevel inverter that significantly reduces the number of switches and DC voltage sources necessary for operation, achieving 21 levels of output with just 11 switches and 4 sources. The advantages include lower costs, reduced complexity, and minimized total harmonic distortion (THD) through various pulse width modulation techniques. Simulation results validate the proposed design, showing a THD of 12.69%, which can be further reduced using specific modulation techniques.