Your classic farmer stealing power urban legend.
https://user.physics.unc.edu/~deardorf/phys25/rwp/exam1rwpsolution.html
8) Assuming a cost of $0.10/kW-h, what is the approximate value of the energy stolen by the farmer over the period of one year?
If we assume that the farmer used the equipment half of the time (an average power consumption of 36 W over the course of a day), then the total cost for one year would be: cost = (36 W)(24 h/day)(365 days/year)($0.10/kW-h) = $31.54/year. Even at the maximum power rate of 72 W, the value of the energy stolen would be only $63/year. This hardly seems worth the effort, risk, and cost (see below).
9) Estimate the cost to make the coil, assuming that the farmer used 12-Gauge copper wire at a cost of $0.15/ft. Evaluate the cost-effectiveness of the farmer's design and calculate the approximate pay-back period for his investment.
With 7140 loops of wire required and a length per loop of 20 m, the farmer would need 143 km of wire! At $0.15/ft = $0.50/m, this wire would cost $71,400! This means that even at the maximum energy consumption rate, the payback period would be at least 1000 years
https://user.physics.unc.edu/~deardorf/phys25/rwp/exam1rwpsolution.html
8) Assuming a cost of $0.10/kW-h, what is the approximate value of the energy stolen by the farmer over the period of one year?
If we assume that the farmer used the equipment half of the time (an average power consumption of 36 W over the course of a day), then the total cost for one year would be: cost = (36 W)(24 h/day)(365 days/year)($0.10/kW-h) = $31.54/year. Even at the maximum power rate of 72 W, the value of the energy stolen would be only $63/year. This hardly seems worth the effort, risk, and cost (see below).
9) Estimate the cost to make the coil, assuming that the farmer used 12-Gauge copper wire at a cost of $0.15/ft. Evaluate the cost-effectiveness of the farmer's design and calculate the approximate pay-back period for his investment.
With 7140 loops of wire required and a length per loop of 20 m, the farmer would need 143 km of wire! At $0.15/ft = $0.50/m, this wire would cost $71,400! This means that even at the maximum energy consumption rate, the payback period would be at least 1000 years
11) What other insights can be learned from this problem?
Based on the calculations above, it seems that this method of stealing power is highly inefficient and impractical. I seriously doubt that any farmer has actually done this (perhaps this is a myth suitable for the Mythbusters to investigate!). This application of Faraday's law is essentially a power transformer with very low efficiency. There are many other applications of Faraday's law that pervade our modern lives; this is just one that is not advised
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