There is provided a method of producing a product. The method comprises: supplying electricity generated in a photovoltaic cell arrangement and a piston engine, respectively, to electrolytic and catalytic reactions that are heated by concentrated sunlight; reacting carbon dioxide and water in the heated electrolytic and catalytic reactions to form a pressurized product, such as pressurized methanol; and expanding the pressurized product in the piston engine to generate electricity. There is also provided a system for production of the product as well as devices to be used in the method or system.