This is a great product at a fantastic price! I have used the ones I purchased in many ways. It's a very convenient means of getting a well-regulated, stable 5v from a 12v battery, solar panel, or other source. It is handy for generating 3.3v, 5v, 12v, 15v, 24v, etc from unregulated supplies such as simple transformer/rectifier/filter designs or unregulated "wall-wart" packs. I have used it for controlling brightness of LEDs, controlling charge rate of batteries, speed control of small motor, etc, etc. The applications seem endless, and if you are an active experimenter, it's nice to have one or more on hand at all times!
Note that the input voltage must be at least about 1.5v greater than the desired output!