The Final Project/Quantum Transducer
The only presently known way for a system to operate without wear is for it to function by moving between coherent quantum states. For example, superconductors do not wear out from use, but rather from the transitioning between conducting and superconducting states, as it currently involves extreme cooling that stresses the materials. As the Cooper pairs flow without resistance, there is no real (as opposed to virtual, rather than insignificant) interaction taking place between them and their medium, thus there is no opportunity for physical breakdown.
In theory this operation as a coherent single quantum system should be generalizable to systems of arbitrary size and complexity. Modeling and describing such systems may be incredibly complicated, but this does not preclude their existence. A complete power generation system that operates without wear could thus be created.
The obvious immediate requirements are that it be neigh completely isolated from outside interference and that it be cooled to an extremely low temperature, preventing self-decoherence.