A linear regulator can effectively control a 24V and 12V system if the output voltage is allowed to be a couple of volts lower than the input. This approach is suitable for applications where precise voltage regulation is needed, but efficiency may be compromised due to heat dissipation. For a frac company's trucks, maintaining steady voltage levels is crucial for electronics performance. However, if higher efficiency is required, a switching power supply may be a better alternative. Overall, the choice between a linear regulator and a switching power supply depends on the specific voltage regulation needs and efficiency considerations.