I'm wondering if any one would know where I could get a suitable VFD ready 220V motor at an affordable price.
If you want to use the existing motor as is you must go RPC. I don't think the transformer you have will work. As I understand it (keeping in mind that I am NOT a high power expert) single-phase power can be derived from a three-phase power source using a transformer, but
a transformer cannot convert single-phase power to three-phase power. Converting single-phase power to three-phase power requires either a rotary phase converter (RPC) or a variable frequency drive (VFD). As of right now, I don't know of any VFDs that will convert 220 to 550. This is my understanding.
With the wonder of electronics, there may be other solutions here now or around the corner, but I am not aware of them.
Therefore, to use your existing motor, you only have two options - RPC or a rewind.
I bet you can find a better price on a rewind but don't have any recommendations.
A rewind will not achieve VFD ready. You will be limited to about 45Hz to 100Hz. Safe would be 50 to 75. Not really enough to make chasing it a no-brainer.
If you want good variable speed control 5Hz to 120Hz, you need a VFD ready motor. It will NOT LOOK THE SAME and YOU WILL NEED an adapter plate. In my mind a VFD ready motor is a highly desirable solution.
E-Motors has great delivery and good support. I was lucky and got a seconds motor (prolly a return but they guaranteed it), but I gotta tell you that knowing what I know now, I would buy a new one at full pop without batting an eye.
You will also need to make an adapter plate. It was way easier than I imagined. If I had to do it over I would use a rotary table to make it. But that assumes you have a working mill and a rotary table. So I did what I had to do. I used a cutting torch and a side grinder. It's not gorgeous but I don't even notice it anymore.
The mounting plate on the motor will take a box of some kind in the future for controls and master switch etc. Today it sits there looking ugly and..... I don't even notice it now.
Edit - I didn't see
@Dabbler s post till I pressed submit. What he says complements what I said.