A system for monitoring characteristics of an electrical energy device, the system comprising: a short generator coupled with the energy device adapted for generating external shorts with predetermined resistances and durations; a sensor unit comprising one or more sensors at predetermined distances from the energy device in communication with the short generator, adapted for sensing, for a desired duration, changes in electromagnetic field, measured by each sensor, induced due to an external short of the energy device; wherein each sensor is adapted for generating a received signal based on the changes in electromagnetic field; and a characteristic monitor unit configured to determine a characteristic of the energy device by analyzing the received signals from the sensor unit; wherein the characteristic monitor unit is configured to measure the received signal at different time periods after the charge or discharge is stopped identifying different received signal values, which can be an indication of the state of health or state of charge of the energy device or any of its units; wherein the characteristic monitor unit comprises a signal analyzer configured to calculate a signal parameter based on the received signal, and using the configuration information, which comprises the temperature, a distance of a sensor from the energy device or nearest part of the external short, and the known external resistance; wherein the signal parameter includes an instantaneous parameter, the instantaneous parameter comprising maximum power, maximum change in voltage and maximum change in current. a short generator coupled with the energy device adapted for generating external shorts with predetermined resistances and durations; a sensor unit comprising one or more sensors at predetermined distances from the energy device in communication with the short generator, adapted for sensing, for a desired duration, changes in electromagnetic field, measured by each sensor, induced due to an external short of the energy device; wherein each sensor is adapted for generating a received signal based on the changes in electromagnetic field; and a characteristic monitor unit configured to determine a characteristic of the energy device by analyzing the received signals from the sensor unit; wherein the characteristic monitor unit is configured to measure the received signal at different time periods after the charge or discharge is stopped identifying different received signal values, which can be an indication of the state of health or state of charge of the energy device or any of its units; wherein the characteristic monitor unit comprises a signal analyzer configured to calculate a signal parameter based on the received signal, and using the configuration information, which comprises the temperature, a distance of a sensor from the energy device or nearest part of the external short, and the known external resistance; wherein the signal parameter includes an instantaneous parameter, the instantaneous parameter comprising maximum power, maximum change in voltage and maximum change in current. wherein the characteristic monitor unit comprises a signal analyzer configured to calculate a signal parameter based on the received signal, and using the configuration information, which comprises the temperature, a distance of a sensor from the energy device or nearest part of the external short, and the known external resistance; wherein the signal parameter includes an instantaneous parameter, the instantaneous parameter comprising maximum power, maximum change in voltage and maximum change in current.