The Rankine cycle is the fundamental thermodynamic underpinning of the steam engine. The cycle is an arrangement of components as is typically used for simple power production, and utilizes the phase change of water (boiling water producing steam, condensing exhaust steam, producing liquid water)) to provide a practical heat/power conversion system. The heat is supplied externally to a closed loop with some of the heat added being converted to work and the waste heat being removed in a condenser. The Rankine cycle is used in virtually all steam power production applications. In the 1990s, Rankine steam cycles generated about 90% of all electric power used throughout the world, including virtually all solar, biomass, coal and nuclear power plants. It is named after William John Macquorn Rankine, a Scottish polymath.