A shaft grounding system and a method for ground a shaft are presented. The shaft grounding system includes a shaft grounding assembly. An insulation layer may be arranged in the shaft grounding assembly that splits the shaft grounding assembly to a first part and a second part. The first part includes a measurement circuit having high impedance such that virtually all current of the shaft travels through the second part. The shaft grounding system with the split shaft grounding assembly provides an accurate shaft voltage measurement due to the high impedance of the measuring circuit. The shaft grounding system presented is very low cost, installs using the existing shaft ground mounting components, and allows condition based maintenance of the shaft grounding system.