This paper provides a systematic study on characteristics of a multiport converter with application in residential consumers of smart grid. The proposed converter can be used as a part of renewable energy system both in off-grid and grid connected customers. The study included several characteristics like efficiency, cost, reliability, flexibility and complexity of converters. Finally, the appropriate range of power and the modular structure are selected for the multiport converter. It is shown that a modular structure is preferable for residential consumers as it covers a wide range of demands. It also improves the reliability of renewable energy system especially in case of off-grid customers.