There is a strong trend in the photovoltaic (PV) inverter technology to use transformerless topologies in order to acquire higher efficiencies combining with very low ground leakage current. In this paper a new topology, based on the H-Bridge with a new AC bypass circuit consisting in a diode rectifier and a switch with clamping to the DC midpoint is proposed. The topology is simulated and experimentally validated and a comparison with other existing topologies is performed. High conversion efficiency and low leakage current is demonstrated.