Explore Future Household Energy Concepts with a Powerball Generator

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GeekyMe
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Take a look at this:
http://www.gadgetsquick.co.uk/product_thumb.php?img=images/powerball-neon-blue-litup.jpg&w=214&h=200

I am looking for ideas about a physics project. The theme is "future household energy concepts".

I found this thing from a http://www.gadgetsquick.co.uk website. How does this thing work? I wanted to simulate it into a mini-house model so that it functions like a power generator.

Anyone can lead me to a good website with step by step instruction on how to make one of that?
 
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Looks like a gyroscope, pretty sure it just works on the principle that moving magnets in the proximity of wire coils will create a charge. It can be replicated by any spinning object. Not sure how that would work in a house, though.