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From what I understand, the metal ball will be induced into having a charge that will come close to -100KV
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Charge is not induction. The metal ball will not get a net charge (unless it has contact to something else) - it will have some charge separation, with less electrons close to the -100kV-point and more electrons far away.
Why do you use a cylindrical dielectric? Two charged objects (conductivity does not matter) would do the same.
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When this is done, is there any transfer of energy?
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Some energy of the electrostatic field is used to separate the charges.