Abstract: Systems and methods in which output power that would conventionally be provided by surface equipment to drive downhole equipment, is transformed to increase the voltage before transmitting the power over a power cable to downhole equipment. The downhole equipment includes a step-down transformer that receives power from the power cable at a voltage which is too high to drive the motor or other downhole equipment and reduces the voltage to a level that is suitable for use by the downhole equipment. The step-down transformer may utilize toroidal transformers that are positioned around other components of the system, such as the shaft that couples a motor to an electric submersible pump. The step-down transformer may be configured as a modular unit that can be inserted between components (e.g. motor and seal) that are manufactured using conventional designs.