Each of the first battery B1 and the second battery B2 is a direct-current power supply formed of a secondary battery, and is, for example, a lithium ion secondary battery or a nickel-metal hydride secondary battery. At least one of the first battery B1 or the second battery B2 may be an electrical storage element, such as an electric double layer capacitor, instead of a secondary battery.
The inverter 18 converts direct-current power, stepped up by the electric power converter 11, to three-phase alternating-current power and also converts regenerated electric power (three-phase alternating-current power), regenerated by the rotary electric machine 20, to direct-current power by turning on or off the switching elements (not shown).
The electric power converter 11 steps up or steps down voltage (converts electric power) between the rotary electric machine 20 (load) and each of the first battery B1 and the second battery B2 and also switches connection of the first battery B1 and the second battery B2 to the rotary electric machine 20 between series connection and parallel connection by turning on or off the switching elements S1 to S4.