Bidirectional DC-DC converter
Bi-directional DC to DC voltage convertors typically convert a lower DC voltage (i.e. 12-48V) into a higher one (i.e. 100-400V) and vice-versa, at high (+95%) efficiency. These devices could be used in a decentralized grid system to allow for efficient transfer of energy over longer distances and to provide isolation.
http://product.tdk.com/en/techjournal/archives/vol20_eza/img/con02_01.gif
Existing systems
Several modules exist with this functionality, most of which find their typical usage in the electrical automobile industry for applications like regenerative breaking.
Examples
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TDK’s bi-directional DC-DC converters https://nl.tdk-lambda.com/products/product-details.aspx?scid=351
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Vicor’s BCM chips