A method for detecting a performance degradation of a capacitor in a power converter is disclosed. The method includes monitoring a voltage across the capacitor, detecting the performance degradation of the capacitor based on the monitored voltage, and generating a warning signal after detecting the performance degradation of the capacitor. A power converter is including at least one capacitor and a processor operably coupled to the at least one capacitor for monitoring a voltage across the at least one capacitor is also disclosed. The processor is configured for detecting a performance degradation of the capacitor based, at least in part, on the monitored voltage, and for generating a warning signal after detecting the performance degradation of the at least one capacitor.