A hybrid solar thermal and photovoltaic panel based cogeneration system and heat pump and non-tracking non-imaging solar concentrator based CSP stabilized power generation system comprises a hybrid solar thermal and photovoltaic panel based cogeneration subsystem to cogenerate electricity and heat, a heat pump subsystem to raise the temperature of the cogenerated heat, a non-tracking non-imaging solar concentrator based CSP subsystem to further upgrade the cogenerated thermal energy, a thermal storage to store the cogenerated heat, and a thermal power regeneration system, to take the stored cogenerated heat to regenerate power. The power output of the cogeneration subsystem supplemented with the power output from the thermal power regeneration system realizes stabilized power output.