Dielectric elastomer generators (DEGs) are attractive candidates for harvesting electrical energy from mechanical work since they comprise relatively few moving parts and large elastomer sheets can be mass produced. Successfully demonstrations of the DEG prototypes have been reported from a diverse of energy sources, including ocean waves, wind, flowing water and human movement. The energy densities achieved, however, are still small compared with theoretical predictions. We show that significant improvements in energy density (550 J/kg with an efficiency of 22.1%), can be achieved using an equi-biaxial mechanical loading configuration, one that produces uniform deformation and maximizes the capacitance changes. Analysis of the energy dissipations indicates that mechanical losses, which are caused by the viscous losses both within the acrylic elastomer and within the thread materials used for the load transfer assembly, limits the energy conversion efficiency of the DEG. Addressing these losses is suggested to increase the energy conversion efficiency of the DEG.