Bidirectional insulating dc/dc converter and smart network

A bidirectional insulating DC/DC converter (1) is provided with a first single-phase three-level inverter (INV-A), a second single-phase three-level inverter (INV-B), and an insulation transformer (3). The first single-phase three-level inverter (INV-A) generates an alternating-current voltage (VA) between output terminals (1a, 1b) on the basis of a first direct-current voltage received from a first direct-current circuit (5). The second single-phase three-level inverter (INV-B) generates a second alternating-current voltage (VB) between output terminals (2a, 2b) on the basis of a second direct-current voltage received from a second direct-current circuit (6). The insulation transformer (3) includes: a primary winding (3a) that receives the first alternating-current voltage (VA) from the output terminals (1a, 1b); and a secondary winding (3b) that receives the second alternating-current voltage (VB) from the output terminals (2a, 2b).