A transformer is a static device that transfers electrical energy between two or more circuits through electromagnetic induction. It consists of two coils, a primary coil connected to an energy source and a secondary coil connected to a load, with both coils linked by a common magnetic core. Voltage is stepped up or down proportionally to the ratio of turns between the coils. Transformers experience losses, including no-load losses from core hysteresis and eddy currents, and load losses from winding resistance. Methods to improve efficiency include optimizing loading, operating in parallel, voltage regulation, and reducing no-load and copper losses.