A novel regenerative shock absorber has been designed and fabricated. The novelty of the presented work is the application of the double speed regenerative shock absorber that utilizes the rack and pinion mechanism to increase the magnet speed with respect to the coils for higher power output. The simulation models with parameters identified from finite element analysis and the experiments are developed. The proposed regenerative shock absorber is compared with the regenerative shock absorber without the rack and pinion mechanism, when they are integrated into the same quarter vehicle suspension system. The sinusoidal wave road profile displacement excitation and the random road profile displacement excitation with peak amplitude of 0.035 m are applied as the inputs in the frequency range of 0–25 Hz. It is found that with the sinusoidal and random road profile displacement input, the proposed innovative design can increase the output power by 4 times comparing to the baseline design. The proposed double speed regenerative shock absorber also presents to be more sensitive to the road profile irregularity than the single speed regenerative shock absorber as suggested by Monte Carlo simulation. Lastly the coil mass and amplification factor are studied for sensitivity analysis and performance optimization, which provides a general design method of the regenerative shock absorbers. It shows that for the system power output, the proposed design becomes more sensitive to either the coil mass or amplification factor depending on the amount of the coil mass. With the specifically selected combination of the coil mass and amplification factor, the optimized energy harvesting performance can be achieved.