This paper presents the novel low-performance single-phase voltage regulator which has common arm between the AC/DC and DC/AC power converters and adopts appropriate switching strategy, resulting in the reduction of the number of switching devices. Moreover, by introducing the method to replace the method to replace the conventional AC condenser in filter circuit with the new low-cost type using two DC condenser, the whole voltage regulator system can be more compact, simpler and less expensive than conventional ones. The fully digital controller is designed using high speed DSP, and the proposed system is validated through the experimental results.