The multifunctional power converter apparatus and method includes an input power stage configured to receive a DC input voltage from a DC power source and convert the DC input voltage to an AC or DC output voltage. At least one electrical power conversion electronic circuit is connected to an output of the input power stage, a DC output circuit; an AC output circuit; and a controller configured to control the input power stage, the DC output circuit and the AC output circuit. The controller is configured to automatically control the power converter output voltage based on a preselected user input.