Modular multilevel converters(MMCs) are widely utilized in medium voltage grid-connected applications, typically employing carrier phase shift modulation. However, the high switching frequency associated with this modulation scheme often increases power losses and thermal stress on semiconductor devices, negatively impacting their efficiency and reliability. In this paper, we propose an adaptive switching frequency scheme that divides the carrier frequency into several discrete zones based on load conditions. Through analytical evaluation of the carrier frequency, our proposed method optimizes it to meet power quality and capacitor voltage ripple requirements, effectively reducing power losses and thermal stress. A simulation case study based on a 15-MVA MMC demonstrates a remarkable 21% reduction in annual power losses and a 12% reduction in annual damage, thereby improving efficiency and reliability. Additionally, experimental measurements conducted on a 15-kW downscale platform validate around 10% reduction in power losses while fulfilling power quality and capacitor voltage ripple requirements.