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This paper describes a method for evaluating load performance of permanent magnet generators using finite elements. The time-space relationships of currents, voltages, and flux linkages in a synchronous machine are exploited to evaluate the instantaneous armature currents corresponding to a given rotor position and load condition. A standard finite element software is then used to analyze the load condition; and the load angle, power factor, and the terminal voltage are determined. The method is used to analyze the overload performance of a high-speed rare earth permanent magnet generator, and simulation results are reported.