A solid state drive (SSD) with improved power efficiency includes one or more non-volatile memory devices configured to operate according to a programming voltage for a program function or an erase function and to a supply voltage for a read function. The SSD also includes a voltage regulator, external of the one or more non-volatile memory devices, having an output connected to the one or more non-volatile memory devices to supply the programming voltage and an input connected to receive a first voltage, the voltage regulator configured to convert the first voltage to the programming voltage. A discrete capacitor is connected to supply the first voltage to the voltage regulator. The one or more non-volatile memory devices operate according to the programming voltage supplied by the voltage regulator during both the normal operation of the SSD and in the event of a power loss or failure of the SSD.