In an AC circuit the voltage applied is $E=E_0\sin \omega t$ . The resulting current in the circuit is $I=I_0\sin (\omega t-\frac{\pi }{2})$ .  The power consumption in the circuit is given by

For given circuit current is lagging the voltage by $\pi /2$ so circuit is purely inductive and there is no power consumption in the circuit. The work done by battery is stored as magnetic energy in the inductor.