Switched reluctance machines (SRMs) are a prime candidate for aerospace starter/generators and various automotive applications. The choice of SRMs for the starter/generator application is driven largely by the perceived reliability and fault tolerance of the machine and its electronics. An analysis of the switched reluctance generator's (SRG) faults and excitation requirements is essential to utilize the full fault tolerance capability of the machine in this application. Thus, research has been undertaken to identify, analyze and simulate the various fault modes of the SRG. This research included an investigation of the generator's excitation requirements with and without faults. The investigation makes it possible to determine the size of the excitation source required during the initial build up of the generator's output voltage and under fault conditions. The SR machine, controller, EMI filter, excitation source, and load were all modeled and integrated into a Matlab-Simulink model in order to analyze the SR generator system.