In this study, a novel prototype of a hybrid concentrator photovoltaic/thermal and solar thermoelectric generator system has been designed and constructed for combined heat and power production. In the developed hybrid system, both the solar cells and thermoelectric modules that share a common heat transfer medium are exposed to concentrated irradiance via a compound parabolic concentrator and a parabolic trough concentrator, respectively. To assess the performance of the hybrid system, a prototype of the hybrid system was built and tested under outdoor operating conditions, and the findings were compared with those of a transient numerical simulation conducted using ANSYS Fluent. The average PV temperature obtained during the test period at a flow rate of 3.8 L/min is 318.19 K which is ∼5.6% lesser compared with a conventional hybrid CPVT-TEG system. The outdoor trials show maximum electrical efficiency of 4.86% and thermal efficiency of 40% when the solar irradiance is greater than or equal to 1000 W/m2. The overall efficiency of the developed prototype is 3 times higher compared to a standalone PV system. The hybrid system helps to reduce carbon emission by 0.5 kg/h, with an associated environmental cost of 0.025 €/h.