This paper proposes the experiments and setups for studying diagnosis and prognosis of electrolytic capacitors in DC-DC power converters. Electrolytic capacitors and power MOSFET’s have higher failure rates than other components in DC-DC converter systems. Currently, our work focuses on experimental analysis and modeling electrolytic capacitors degradation and its effects on the output of DC-DC converter systems. The output degradation is typically measured by the increase in Equivalent series resistance and decrease in capacitance leading to output ripple currents.Typically, the ripple current effects dominate, and they can have adverse effects on downstream components. A model based approach to studying degradation phenomena enables us to combine the physics based modeling of the DC-DC converter with physics of failure models of capacitor degradation, and predict using stochastic simulation methods how system performance deteriorates with time. Degradation experiments were conducted where electrolytic capacitors were subjected to electrical and thermal stress to accelerate the aging of the system. This more systematic analysis may provide a more general and accurate method for computing the remaining useful life (RUL) of the component and the converter system.