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In the late 1990s, Power Integrations introduced EcoSmart and TinySwitch chips, which reduce standby power consumption in electronic devices. These technologies help manufacturers cut energy leakage by up to 95%, contributing to an estimated 11.5 TWh of annual electricity savings. The company estimates its components have been used in over 20 billion devices and saved approximately $10 billion in electricity costs.
The company has also advocated for regulatory standards for efficient power supplies. In 2001, then-CEO Balu Balakrishnan demonstrated its technology to President George W. Bush, influencing adoption of the one-watt standby standard for Energy Star certification and prompting an executive order on energy-efficient federal purchases.
In 2006, the chairman and CFO resigned amid an internal investigation into stock option accounting, which led to potential earnings restatements and Nasdaq scrutiny.
In 2011, Power Integrations acquired Qspeed Semiconductor, a supplier of high-voltage diodes, for approximately US$7 million in cash. In May 2012, it acquired CT‑Concept Technologie AG (CONCEPT), a Swiss developer of integrated IGBT drivers, in a cash deal valued at about US$115 million. On 1 January 2015, it acquired Cambridge Semiconductor Limited (CamSemi), a UK‑based fabless power‑management IC vendor, for roughly US$23 million.
CEO Balu Balakrishnan retired in 2025 after more than 20 years. He was succeeded by Jennifer Lloyd, a former Analog Devices executive.