This paper investigates utilization of silicon carbide (SiC) Schottky power diodes as inverter Free Wheel Diodes (FWD) in a commercially available standard Econopak module also packaged with latest generation low-loss IGBT silicon. Static and switching characteristics of SiC diodes over standard module operating temperature 25 0C to 125 0C (298 0K - 398 0K) are measured. Module Turn-on, Turn-off and conduction losses vs. frequency are calculated and measured for three phase motor drive operation. Measurements are compared to standard modules using all Silicon (Si) IGBT- diode. System benefits justifying the increased SiC diode cost, such as EMI reduction, increased efficiency, reduced magnetic filter volume and reduced cooling requirements at higher allowable switching frequencies is investigated.