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Piezoelectric materials have long been used as sensors and actuators, however their use as electrical generators is less established. A piezoelectric power generator has great potential for some remote applications such as in vivo sensors, embedded MEMS devices, and distributed networking. Such materials are capable of converting mechanical energy into electrical energy, but developing piezoelectric generators is challenging because of their poor source characteristics (high voltage, low current, high impedance) and relatively low power output. In the past these challenges have limited the development and application of piezoelectric generators, but the recent advent of extremely low power electrical and mechanical devices (e.g., MEMS) make such generators attractive. This paper presents a theoretical analysis of piezoelectric power generation that is verified with simulation and experimental results. Several important considerations in designing such generators are explored, including parameter identification, load matching, form factors, efficiency, longevity, energy conversion and energy storage. Finally, an application of this analysis is presented where electrical energy is generated inside a prototype Total Knee Replacement (TKR) implant.