No, because it isn't doing any work. Say the magnet is closing and opening a small reed switch on every cycle. The work to do this is coming from the flywheel, not the magnet. Replace the magnet with a cam and replace the reed switch with a microswitch that is hit by the cam on every cycle. Does the cam lose energy, or is the work coming from the flywheel? If the flywheel isn't powered, will it eventually slow down? If you break rocks with a hammer, is the hammer doing work... or are you just using the hammer to _transmit_ the work that you are doing? No, because they aren't doing any work. The work to drive the rotor comes from the electrical power applied to the coils.
With a magnet on the flywheel passing a coil to generate current, the magnetic field of the magnet is always there, it is not the movement of the flywheel, the flywheel just brings that field into proximity of the coil for a time thus generating current in the coil. That is the flywheel did not create the energy, the magnetic field yes, the flywheel was expended energy only to move that field too and from the coil. Another way, a magnet held above a piece of steel and the steel rises up to the magnet when close enough, what created the energy to rise the steel? the movement of the magnet closer to the steel or the movement itself? Or is it the magnetic field? A perminent magnet does create energy, the problem is to extract that energy you may have to expend more than you get back. Regards Mike
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