UPS systems are much like DC-to-AC inverters. Except instead of starting with a 12V or 24V battery, they store the energy at a higher voltage. Higher voltage means less current, less copper, less conversion losses, etc.
A standard inverter takes the battery voltage and using high-frequency PWM (say 20kHz to 100 kHz range) through a transformer (designed for this higher frequency), to a high-voltage DC. For 110 to 120 VAC this is generally 165 to 200 VDC. The voltage comes from the need to produce the peak of the sine wave, at Vrms * SQRT(2). Then in a second stage the high voltage is PWM through a H-bridge to produce a sine wave output. This second stage electrically is not much unlike an AC motor VFD drive running at a fixed frequency of 60 Hz.
There are several popular techniques that vary slightly in the details. Solar inverters are not much different. Of course, the intermediate high voltage and output frequency are different if you're going 12V to 230V 50 Hz (nod to ScottyUK). I'm sure there other differences if your end goal is 208VAC, and for some design or cost reason 192 VDC batteries make the best solution for APC.