App note: Switching regulator power loss
Here’s a video from Linear Technology explaining why power loss is a more important factor than efficiency in switching regulators. Comparing the efficiency of two different switching regulators can be, and usually is ,misleading.
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Efficiency is a misleading number for comparison of switching regulators. The efficiency number can be manipulated by the input and output voltage, while power loss is more tightly tied to the actual circuit. This video explains why.