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In 1996, NASA experimented with such a thing. It used a tethered satellite (the tether containing metal and being 12.5 miles long), moving through the magnetosphere. It worked under the same principle as a dynamo, where a moving wire in a magnetic field would create electricity. One part of the circuit was the tether itself, where the other was the ionosphere, the distant, ionized region of our atmosphere. This effect is not without cost, however, as the magnetic field opposes the motion of the system, thus lessening its kinetic energy and degrading its orbit. The tether exploited about 1 ampere at 3500 volts of electricity.
See more about this experiment at:
Tethered Satellite System (TSS-1R) by NASA
'I beseech you to take interest in these sacred domains so expressively called laboratories. Ask that there be more and that they be adorned for these are the temples of the future, wealth and well-being. It is here that humanity will grow, strengthen and improve. Here, humanity will learn to read progress and individual harmony in the works of nature, while humanity's own works are all too often those of barbarism, fanaticism and destruction.'