We describe a photovoltaic power conditioning unit comprising: both dc and ac power inputs; a dc link; at least one dc-to-dc converter coupled between dc input and dc link; and a dc-to-ac converter coupled between dc link and ac output. The dc-to-dc converter comprises: a transformer having input and output windings; an input dc-to-ac converter coupled between dc input and input winding; and an ac-to-dc converter coupled between output winding the dc link. The output winding has a winding tap between the first and second portions. The ac-to-dc converter comprises: first and second rectifiers, each connected to a respective first and second portion of the output winding, to the dc link and winding tap; and a series inductor connected to the winding tap. Rectifiers are connected to the winding tap of the output winding via the series inductor wherein the series inductor is shared between the first and second rectifiers.