A system and method for generating electrical power from a heat source utilizing both photonic and thermal conversion are disclosed. Specifically, power is generated by coupling photon converters to thermoelectric pairs in a way such that the thermoelectric pairs gain not only the charge carriers (holes and electrons) generated by the photons absorbed by the photon converters, but also the charge carriers generated by excess heat in the photon converters and an added thermal gradient generated by excess energy in the absorbed photons. Heat exchanger variations for such a system are also disclosed. Specifically, heat exchangers with and without photon emitters are disclosed and variants of refractive indices for heat exchanger systems are disclosed.