Geothermal power generation technologies are well established and there are numerous power plants operating worldwide. Turkey is rich in geothermal resources while most resources are not exploited for power production. In this study, we consider geothermal resources in Kutahya-Simav region having geothermal water at a temperature suitable for power generation. The study is aimed to yield the method of the most effective use of the geothermal resource and a rational thermodynamic and economic comparison of various cycles for a given resource. The cycles considered include double-flash, binary, combined flash/binary, and Kalina cycle. The selected cycles are optimized for the turbine inlet pressure that would generate maximum power output and energy and exergy efficiencies. The distribution of exergy in plant components and processes are shown using tables. Maximum first law efficiencies vary between 6.9% and 10.6% while the second law efficiencies vary between 38.5% and 59.3% depending on the cycle considered. The maximum power output, the first law, and the second law efficiencies are obtained for Kalina cycle followed by combined cycle and binary cycle. An economic analysis of four cycles considered indicates that the cost of producing a unit amount of electricity is 0.0116 $/kW h for double flash and Kalina cycles, 0.0165 $/kW h for combined cycle and 0.0202 $/kW h for binary cycle. Consequently, the payback period is 5.8 years for double flash and Kalina cycles while it is 8.3 years for combined cycle and 9 years for binary cycle. (C) 2013 Elsevier Ltd. All rights reserved.