The Z‐source inverter is one of the most interesting power electronic converters. Over the past decades, research and development have been in high demand to meet the challenges for improving the converter performance with reduced weight and cost while having high efficiency along with high gain or boost factor. Since the inception, tons of resolutions, customizations, and improvements have appeared to achieve these performance goals. To overcome the most common drawback, i.e. the low boost factor of classical Z‐source inverters, the switched inductor/capacitor and switched boost Z‐source inverter topologies have become predominant in the recent epoch. Furthermore, the higher component voltage stress, discontinuous input current, and high inrush start‐up current issues have also been addressed and solved in various literature as part of this topical advancement. In this study, a comprehensive review of various switched impedance network‐based Z‐source inverter topologies has been accomplished for providing a quick report to researchers and engineers so that they can consider this as a one‐stop solution for selecting inverters from this group. The overall study covers the methodology, features, and relevant important results of the latest switched Z‐source inverter models in order to demonstrate the coordination between pitfalls and improvements.