A method and apparatus for providing welding type power is disclosed. A welding type power supply includes an input circuit, a controller and an output circuit. The input circuit receives an input power signal and provides an intermediate power signal. The output circuit receives the intermediate power signal and provides a welding type power output. The output circuit has an inverter with at least two inverter switches, and a clamp circuit that limits the voltage across the inverter. The clamp circuit captures and buffers the excess energy, and returns the excess energy to an input of the inverter over a plurality of switching cycles. The controller has control outputs connected to the input circuit and the output circuit, to control them.