[flahy-hweel, -weel]
noun Machinery.
a heavy disk or wheel rotating on a shaft so that its momentum gives almost uniform rotational speed to the shaft and to all connected machinery.

1775–85; fly1 + wheel Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
flywheel (ˈflaɪˌwiːl)
a heavy wheel that stores kinetic energy and smooths the operation of a reciprocating engine by maintaining a constant speed of rotation over the whole cycle

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Word Origin & History

1784, from fly (n.) "speed-regulating device" (from fly (v.1)) + wheel.
Online Etymology Dictionary, © 2010 Douglas Harper
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Example sentences
Efforts to integrate storage into electric grids continue to struggle as a
  federally backed flywheel company goes bankrupt.
My favorite battery tech at the moment is the flywheel.
Electric flywheel technology, which can be bought today, should be put in areas
  to stop power dips and surges.
He stood rubbing her back in the manner of someone trying to set a flywheel
Image for flywheel
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