Various embodiments are described herein for a switched reluctance machine having a rotor excitation. In one example embodiment, the switched reluctance machine comprises a stator and a rotor. The rotor may be disposed inside or outside the stator. The rotor is spaced from the stator, and the rotor and the stator are concentrically disposed. The rotor has a plurality of rotor poles having an excitation source, where the excitation source comprises at least one adjustable parameter. The excitation source is provided by a permanent magnet. The dimensions and various other parameters associated with the permanent magnets are adjustable.