A bidirectional power conversion system includes an isolated power converter having a first input connected to an output of a diode rectifier and a second input connected to an output of a power factor correction device. The power conversion system further comprises a plurality of switches and a plurality of diodes configured such that the plurality of switches and the plurality of diodes form the diode rectifier and the power factor correction device when the system is configured to deliver power from an AC power source to a DC load and the plurality of switches forms an inverter when the system is configured to deliver power from a DC power source to an AC load.