Distributed power generation through renewable sources of energy has the potential of meeting the challenge of providing electricity access to the off-grid population, estimated to be around 1.2 billion residing across the globe with 300 million in India, in a sustainable way. Technological solutions developed around these energy challenges often involve thermal systems that convert heat available from sources like solar, biomass, geothermal or unused industrial processes into electricity. Conventional steam based thermodynamic cycle at distributed scale (< 1 MWe) suffers from low efficiency driving scientific research to develop new, scalable, efficient and economically viable power cycles. This PhD work conducts one such study which provides a database of thermal power blocks optimized for the lowest initial investment cost to developers of distributed power plants. The work is divided in two steps; a) feasibility study of various thermodynamic cycles for distributed power generation covering different operating temperature regimes and b) perform their detailed thermo-economic modelling for the heat sources mentioned above. Thermodynamic cycles are classified into three temperature domains namely, low (< 450 K), medium (< 600 K) and high (< 1000 K) T cycles. Any fluid whose triple point temperature is below the typical ambient temperatures is a potential working fluid in the power cycle. Most of the organic and the inorganic fluids satisfy this criterion and can be perceived as potential power cycle fluids. The general notion is that organic fluids are more suited for low or medium temperature cycles whereas inorganic fluids for high temperature ones. Organic fluids can further be classified into hydrofluorocarbon and hydrocarbon. While the former has high global warming potential (GWP), the latter is flammable in nature. Their mixture in certain compositions is found to obviate both the demerits and perform equally well on thermodynamic scales for low T cycles. On the similar lines, mixture of HCs and inorganic fluids, such as propane+CO2 and isopentane+CO2 are found to be more appropriate for medium T applications if the issues like pinch temperature in the regenerator arising due to temperature glide are taken care of. In the high temperature domain, high efficiency Brayton cycle (supercritical CO2) and transcritical condensing cycles are studied with the latter being 2 % more efficient than the former. However, application of the condensing cycle is limited to low temperature ambient locations owing to low critical temperature of CO2 (304 K). In the same cycle configuration, mixture of CO2 and propane (52 and 48%) with a critical temperature of ~ 320 K is observed to retain the thermodynamic performance with the increased heat rejection temperature matched to the tropical ambient conditions. However, these cycles are plagued by the high operating pressures (~300 bar) calling for high temperature steel making the power block uneconomical. In this regard, the advanced CO2 cycles are developed wherein the optimum operating pressures are limited to 150 bar with an increased cycle efficiency of 6 % over the S-CO2 cycle. Feasibility study carried out on these cycles in the Indian context indicates the low and medium T cycles to be better suited for distributed power generation over the high T cycles. In the second part of work, a comprehensive study is performed to optimize the low and the medium T cycles on a thermo-economic basis for the minimum specific investment cost ($/We). Such a study involves development of component level models which are then integrated to form the system of interest, thus, following a bottom-up approach. A major emphasis is given on the development of scroll expander and low cost pebble bed thermal energy storage system that are the reported in the literature as the areas with high uncertainties while connecting them to the system. Subsequently, the key design parameters influencing the specific cost of power from an air-cooled ORC are identified and used to formulate a 7-dimensional space to search for the minimum costs for applications with a) geothermal/waste or biogas heat sources and b) solar ORCs. Corresponding maps of operating parameters are generated to facilitate distributed power engineers in the design of economic systems within constraints such as available heat source temperatures, maximum expander inlet pressures imposed, etc. Further, the effect of power scaling on these specific costs is evaluated for ORC capacities between 5 and 500 kWe.