To solve the problem of secondary power disturbance caused by power unbalance between input terminal and output terminal in a traditional two-stage inverter, a six-switch hybrid Buck/Boost circuit in parallel with AC side is proposed to handle power decoupling. Thus, second harmonic voltage appeared in DC bus and second harmonic current appeared in voltage source are suppressed, and large electrolytic capacitor can be substituted by a small, long lifespan film capacitor. The hybrid Buck/Boost circuit can handle bi-directional changed pulsation power through Pulse Energy Modulation (PEM), which calculates duty ratio in each switching cycle and achieves decoupling control. Furthermore, four operating modes of the hybrid Buck/Boost circuit are analyzed and the principle of PEM is deduced. Finally, theoretical analysis is verified by Matlab/Simulink simulation platform. Results indicate that the proposed scheme is reasonable and effective. This work is supported by National Natural Science Foundation of China (No. 51467006).