Are induced currents of any concern in satellite missions?

[Yoni]

TL;DR Summary

Are induced currents of any concern in a satellites mission?

A satellite in an orbit around Earth can be subjected to a changing magnetic field (due to eccentricity or angle of orbit or both) which can induce currents on its envelope.
Are these currents negligible or are they of any concern to engineers?

Also, as I understand it, the satellites high speed movement inside Earth's magnetic field would induce an electric dipole moment in the satellite (perpendicular to it's movement and external magnetic field). How would this dipole affect the satellite? Can it protect the circuits from solar flares? What if two vessels in contact detach, can they remain charged?

 

[.Scott]

Here is a NASA article - with a "teachers' guide" prepended: CME (solar flare) effects on satellites discussed
The effects of CME's would be much bigger that those created by other current sources.

 

[Yoni]

Thanks.
But, putting CME's aside, the induced currents (as explained above) are they of any concern for a functioning satellite?

 

[Rive]

But, putting CME's aside, the induced currents (as explained above) are they of any concern for a functioning satellite?

Usually that's not current, but only an electric field. It is (usually) weak and only slowly changing. It is not really a 'concern', not around Earth anyway.
However. There are actual uses:
- google up 'cubesat magnetic stabilization'
- google up 'Electrodynamic tether'