Silicon Controlled Rectifiers (SCRs) are semiconductor devices used for controlling large electrical power and can convert alternating current into direct current while regulating power fed to loads. They operate as switches, featuring unidirectional conductivity and requiring a small trigger to control larger currents, making them essential in various applications such as motor speed control and voltage regulation. Despite their advantages like high power handling and reliability, SCRs have limitations including slower switching speeds and the need for proper overcurrent protection.