This paper presents a modified control algorithm for Space Vector Modulated (SVM) Z-Source inverters. In traditional control strategies, the Z-Source capacitor voltage is controlled by the shoot through duty ratio and the output voltage is controlled by the modulation index respectively. Proposed algorithm provides a modified voltage vector with single stage controller having one degree of freedom wherein traditional controllers have two degrees of freedom. Through this method of control, the full utilization of the dc link input voltage and keeping the lowest voltage stress across the switches with variable input voltage could be achieved. Further it offers ability of buck-boost operation, low distorted output waveforms, sustainability during voltage sags and reduced line harmonics. The SVM control algorithm presented in this paper is implemented through Matlab/Simulink tool and experimentally verified with Z-source inverter prototype in the laboratory.