As a consequence of Faraday’s law of induction, any loop of wire that generates a changing magnetic field in time, also generates an electric field. This process takes energy out of the wire through the electromotive force (EMF). EMF is defined as electromagnetic work done on a unit charge when it has traveled one round of a conductive loop. The energy could now be seen as stored in the electric field. This process uses energy from the wire with power equal to the electric potential times the total charge divided by time. Where Ɛ is the voltage or EMF. By defining the power we can calculate the work which is needed to create such an electric field. Due to energy conservation this amount of work also has to be equal to the energy stored in the field.