A voltage regulation system maintains the output voltage of a permanent magnet generator at an essentially constant level. The stator coils located within the permanent magnet generator are divided into a number of sub-coils. A buck/boost voltage can be applied to selected sub-coils such that the output voltage generated by the permanent magnet generator is increased or decreased. A number of switches are connected to the sub-coils to allow the sub-coils to be connected in a number of different configurations. Connecting the sub-coils in a particular configuration and applying a buck/boost voltage to selected sub-coils based on the monitored output voltage allows the voltage regulation system to maintain an essentially constant output voltage.