Inverters are power electronics circuits that convert DC to AC power with a constant magnitude and frequency. They can operate in two ways - with a constant DC input and varying gain, or a varying DC input and constant gain. Inverters use devices like BJTs, MOSFETs, IGBTs, and SCRs. They can be classified based on their connections as series, parallel, or bridge inverters, and based on their output as single or three phase inverters, with the main types being VSI and CSI inverters.