Triboelectric nanogenerators (TENGs) have demonstrated outstanding potential as energy harvesters and sensors for future wearable electronics. However, TENGs still require major improvements in their theory and optimization, especially for the sliding‐mode designs. Addressing this gap, a novel theoretical model based on the distance‐dependent electric field (DDEF) theory for sliding mode TENGs is presented here. The model is used to simulate the electrical outputs and impedance behaviour of a sliding mode TENG, and the results are verified experimentally. The outcomes indicate that compared to existing theoretical models, this new model provides higher accuracy in representing experimental TENG. Next, all the primary parameters (material, structural and motion parameters) which affect the sliding mode TENG are analyzed, uncovering new optimization strategies and more comprehensive parametric analysis compared to previous models. More importantly, the theoretical approach is equally applicable to sliding mode TENG as well as contact‐separation mode TENG. This eliminates the need for bespoke capacitor models for each TENG type, leading to a universal theoretical platform for TENGs. The new model facilitates cross‐comparison between different TENG working modes, uncovering a range of previously unreported output trends. Hence, this work significantly expands the understanding of TENGs, paving way to more efficient future device designs.