I am reviewing my electromagnetism studies and I became confused with where energy of induced emf due to Faraday/Lenz' law come from.
Suppose that there is a curved track that starts with some height above loop of wires. The path passes through the center of the loop at the lowest point of the track. The track is symmetrical and it also ends at the same height as the starting height.
Now the bar magnet is placed at the starting point. As there is gravitation potential energy converted to kinetic energy, magnetic flux through the loop will change causing an induced emf. But this suggests that by conservation of energy, this electrical energy must have come from somewhere. Otherwise, we would be able to create electrical energy forever using a bar magnet. This is how my confusion arises. Where does the energy come from?