Energy Conservation: How is Heat generated in a loop with Time Varying Magnetic Field through it? 
Consider a circular loop kept in a time-changing magnetic field. We know, via Faraday Law, that EMF is induced across the loop and hence a current appears in the loop. Let there be some Resistance given in the wire. Then heat will appear in the circuit.

How does heat energy appear in the circuit?
I know that an electric field is generated by a changing magnetic field and my guess is that this generated electric field contains some energy which finally appears as heat. But I am unsure about it.
This is because I know the induced electric field does not have a potential associated with it. So what form of energy is stored in this field, if any?
Please provide an explanation as to :
From where does heat appear in the loop?

If possible please start the energy considerations right from the source which produces the varying magnetic field.
 A: The heat comes from current flowing through the wire, since we are told the wire has resistance. So it's just like your usual DC circuit with heat being dissipated in a resistor caused by charge carrier collisions with the molecules of the resistor.
The energy comes from whatever is causing the varying magnetic field. This causes an induced EMF that induces current, and then energy is lost as heat as described above.
A: Okay let's start with the changing magnetic field. We know that in the region of time varying magnetic field , electric field is induced and ( they have some energy released by the source and it depends on the process involved in bringing the change) and when a coil is placed in this region then the electrons experience a net force as shown  in the figure.

Since the force is  acting  tangentially,  the induced electric field does a net work on those charges and hence the energy of the electric field is transferred to those electrons . Since there is an attractive force between the atoms of the coil and the moving electrons ( i.e. resistance of coil ) , energy is released out by the electrons in the form of heat.
