Which circuit element is responsible for storing magnetic energy?

The circuit element responsible for storing magnetic energy is the inductor. When an inductor is connected to a power source and current flows through it, energy is stored in the magnetic field created around the coil of wire that forms the inductor. The amount of energy stored can be quantified by the formula (E = \frac{1}{2} L I^2), where (E) is the energy, (L) is the inductance, and (I) is the current through the inductor.

Inductors serve various purposes in electrical circuits, such as in filtering applications, where they can work alongside capacitors to form low-pass or high-pass filters. They are also important in switching power supplies, energizing magnetic components, and in applications where energy storage in the form of a magnetic field is utilized for functionality.

In contrast, capacitors store energy in an electric field, resistors dissipate energy as heat due to their resistive properties, and transformers transfer electrical energy from one circuit to another through electromagnetic induction without storing energy. Thus, the inductor is uniquely characterized by its function of magnetic energy storage, making it the correct answer in this context.