The birth of electricity witnessed “the battle of currents” between AC and DC as a medium of power transfer. AC won the battle in the first place because of its ability to transform voltage levels. However, with the development of power electronic converters (PECs), DC is striking back. Most of the electronic loads in our conventional AC-based homes are DC by nature. Moreover, the modern concept of energy-efficient variable speed drive (VSD) based loads, i.e. DC-inverter based air-conditioners and refrigerators, require a DC link for their operation. The driving component of all such loads is the PEC. The operational efficiency of PECs depends on the loading which varies throughout the day. This paper presents a mathematical model based on a bottom-up approach to the comparative efficiency analysis of AC and DC distribution systems considering daily load variation. Two topologies are presented where AC and DC distribution systems are compared in terms of efficiency. The first topology (T1) defines a separate/independent converter for each load, whereas in the second topology (T2) loads of a particular class are lumped and driven by a single converter. The results present DC distribution better than AC distribution with an efficiency advantage of 2.28% and 1.57% for T1 and T2, respectively.