A variable frequency drive (VFD) controls the speed and torque of an AC electric motor by varying the frequency and voltage of the power supplied to the motor. It does this by drawing AC power from the utility, converting it to DC, and then converting the DC back to a variable AC waveform. VFDs help conserve energy by only providing the power needed based on the motor's load, rather than running the motor at full speed all the time. The document outlines the basic components and operation of a VFD, as well as goals and timelines for designing and building a VFD circuit.