This paper presents a comparative analysis of performance of three level and seven level Z-source Neutral Point Clamped (NPC) multilevel inverter. A single impedance network is used irrespective number of levels. The Z-source will help in boosting the DC voltage of renewable energy such as fuel cells and photovoltaic cells. Z-source multilevel Inverter will act as a booster inverter and also due to the presence of source impedance network, it provides ride through shoot through faults and by suitable impedance matching the common mode signals are also eliminated. A seven level inverter with reduced number of devices is presented. Since the number of devices are reduced compared to the conventional topologies, the proposed Z-source inverters are compact, energy efficient and cost effective. The simulation and experimental results are presented to demonstrate the benefits of these topologies.