This document describes a Dynamic Voltage Restorer (DVR) using a fifteen level diode clamped multilevel inverter with multicarrier based pulse width modulation techniques. The DVR is used to mitigate voltage sags and improve power quality by injecting compensating voltage during disturbances. Simulations were conducted using MATLAB/Simulink comparing Phase Disposition PWM, Phase Opposition Disposition PWM, and Alternate Phase Opposition Disposition PWM techniques. The Alternate Phase Opposition Disposition PWM technique produced the lowest total harmonic distortion of 4.35%.