I designed a 0.9 volt power supply using LTM8023 switcher bricks, and used an aluminum bulk filter cap. It turns out to have too much ESR, and I got a lot of output ripple, 0.6 volts p-p at 1/3 the switching frequency, some weird sub-cycle oscillation. It only started oscillating as my customer kept adding more and more code to the FPGA, increasing core current. There are two fixes: increase the switching frequency, and use a polymer aluminum cap. We'll do both.
LT Spice does model this pretty well. It does oscillate at higher load currents than we see, but the effect is plainly there.
I got curious about the cap, and my customer is all worked up that we have a good fix, so I measured a cap to make sure we're modeling it right.
This is a United Chem-Con 180 uF 6 volt cap. I soldered a hardline coax onto it as close as I could and TDR'd it:
(the second set of leads were added after the TDR test)
This is astonishing. The inductive spike lasts under 100 ps. I estimate the ESL at maybe 5 nH, some of which is the loop I made soldering the coax to the cap leads.
And here's an ESR estimate, using a sort-of 4-wire connection. A 100 mA current pulse makes about a 1.5 mV step, which is 15 mohms.