The basic required pieces are an alternator or DC generator, a pulley to mount to the shaft of the generator shaft, a belt, an engine or mechanic drive that propels the generator to spin and a mounting bracket.
A person can either choose to physically design the alternator/generator, or can use an existing one and install it within a production and storage system that is designed by the user. This can be done inexpensively and with a little patience.
Electricity is generated when there is a change in a magnetic field, called flux, that induces an alternating current in wire. The basic idea is that of an alternator. High strength magnets are rotated within a band of tightly bound wires to produce alternating current in the wires. The spinning magnets induce a very rapid sinusoidal change in current that can be then be put to immediate use, stored in batteries or fed back into the power grid.
All pieces are mounted onto the mounting bracket or plate. The pulley sits on the alternator shaft, around which the belt connects it to the mechanical drive that provides the motion to create the electricity. These are the very basics. In addition, the power will have to be fed to a battery bank, fuse box or simple cigarette lighter outlet. For these operations some knowledge of wiring is important.
Most electronic devices are designed to use AC power. A DC motor will probably be the most expensive part of the system. A DC motor would also necessitate an inverter to convert the DC power to usable AC. A standard automotive alternator is usually a more reasonable, readily available option, and will work fine for a home made power plant.
A home magnetic energy generator can help save money on the power bill as well as help conserve power, reducing fossil fuels burned to power homes. While building a this can be a fun and educational project, for a longer lasting and more reliable option, a professionally built unit can be a good investment. For some parts of this project, a professional electrician should be consulted.