Recent studies have pointed out the benefits of using Silicon Carbide (SiC) devices in photo-voltaic power conversion. In Particular, SiC Power MOSFET technology has greatly advanced over the last years and has presently reached sufficient maturity to stimulate a concrete interest in the development of power conversion circuits based entirely on this technology, in view of the clear potential advantages it offers over alternative SiC device technologies (e.g., JFET, BJT). This paper presents a thorough characterization of an all SiC MOSFET based single-phase bi-directional switched neutralpoint- clamped (BSNPC) three level inverter, in which, for the first time, SiC Power MOSFETs of different voltage ratings (1200 and 600V) are used. A parametric experimental characterization of the power cell performance is carried out, separating the effects of output power, heat-sink temperature and switching frequency and load variations by means of bespoke heat-sink design. The effect of relying exclusively on the MOSFET body-diode for inductive load current freewheeling is critically assessed against usage of an external SiC Schottky diode. The experimental results are compared with a mixed approach design, where Silicon (Si) devices are used for the lower voltage switches and SiC MOSFETs are kept for the higher voltage ones, deriving a clear indication of the superior possibilities offered by SiC Power MOSFETs for improved efficiency, power density and reliability, key aspects of power electronics technology evolution.