A switched-mode power supply (switching-mode power supply, SMPS, or switcher) is an electronic power supply that incorporates a switching regulator to convert electrical power efficiently. Like other power supplies, an SMPS transfers power from a source, like mains power, to a load, such as a personal computer, while converting voltage and current characteristics. Unlike a linear power supply, the pass transistor of a switching-mode supply continually switches between low-dissipation, full-on and full-off states, and spends very little time in the high dissipation transitions, which minimizes wasted energy. Ideally, a switched-mode power supply dissipates no power. Voltage regulation is achieved by varying the ratio of on-to-off time. In contrast, a linear power supply regulates the output voltage by continually dissipating power in the pass transistor. This higher power conversion efficiency is an important advantage of a switched-mode power supply. Switched-mode power supplies may also be substantially smaller and lighter than a linear supply due to the smaller transformer size and weight.