New Japanese turbine harnesses both wind and wave energy

Will be the first system of it kind to be tested.

The "floating wind and current power generation system" will trial off Japan's southwest coast in the fall. Just one of the huge floating turbines is designed to harness enough energy from the wind and waves to power some 500 homes.

Chief visionary Takuju Nakamur said the new turbine design should generate about twice as much power as a traditional wind turbine of the same diameter.

Nakamura said 80% to 90% of the power generated will come from a wind turbine floating on the ocean while an underwater turbine will produce the remaining power.

"Maybe 10 years later we will be in a very good shape for the business," Nakamura said.