An equalization circuit includes a cell selection circuit that is provided between n cells and an inductor, and that can electrically connect both ends of any cell of the n cells to both ends of the inductor. An energy holding-consuming circuit can form a closed loop including the inductor when the cell selection circuit does not select any cell. The energy holding-consuming circuit also can form a closed loop of a first pattern with a small resistance component of the closed loop and a closed loop of a second pattern with a large resistance component of the closed loop.