Honda has been selling a co-generation system for a few years now (presumably, in the North East of the USA too--may need to contact them directly for details).
http://world.honda.com/news/2007/c07040 ... werSystem/If you don't go grid tied--I am not sure that it would be cost effective (cost of fuel, batteries, loss of efficiency, etc.) to do what you are thinking of...
If you are in the US and have utility power--more than likely you will have to conform to building codes, get permits, and have inspections performed. Bypassing any of this will probably let your insurance company deny claims in the future if any cause of action can be tied back to non-conforming electrical/power/fuel/heating/etc. work.
I guess the short question is "...does your local electric utility allow grid tied systems/inverters/co-generation devices or not?"
If you are in the US--I would suspect that you could get a one time approval from the utility to tie in a "green system" of some sort...
If not, anything electrical power system (off-grid type system) will be so expensive (installation and replacement of batteries) will be really cost prohibitive (and--by extension a waste of resources--fuel/batteries/etc.).
Since you don't mention solar--I am guessing that you don't have good sun available (climate, trees, other buildings, etc.)? If you cannot do grid tie solar PV--and have sun available--solar thermal system of some sort (domestic hot water, space heating) would not be a bad place to invest your time and money.
In any case, energy conservation (including insulation, lighting, energy star appliances, replacement of heating/AC systems with more efficient units, etc.) is probably where your first monies should go... If you don't need/use the energy in the first place--then you don't have to spend money making the energy.
-Bill