In one embodiment, an AC/DC power converter can include: a rectifier bridge and a filter capacitor for converting an external AC voltage to a half-sinusoid DC input voltage; a first storage component, where during each switching cycle in a first operation mode, a first path receives the half-sinusoid DC input voltage to store energy in the first storage component, and a first current through the first storage component increases; a second storage component, where a second path receives a second DC voltage to store energy in the second storage component, and a second current through the second storage component increases; and a third storage component, where in a second operation mode, the first current decreases to release energy from the first to the third storage component, where the second DC voltage includes a voltage across the third storage component through a third path.