In this study, a feasibility analysis of a solar‐assisted transcritical Rankine cycle working with carbon dioxide (CO2) is performed for Isparta, Turkey, in comparison with Kyoto, Japan, conditions. For the analyses, the characteristics of the system are adapted from the actual experimental research conducted at Doshisha University, Kyoto, Japan. In order to evaluate the performance of the CO2‐based integrated system, a mathematical model is established for the evacuated solar collectors. Energy and exergy analyses are carried out using the solar energy data of both cities. According to the simulation results, the average turbine power capacities are determined as 0.415 and 0.396 kW, while the average heat recovery capacities are calculated as 2.10 and 1.89 kW for Isparta and Kyoto, respectively. The yearly electricity generation for Isparta conditions is found to be about 40% higher than the Kyoto conditions with 1138.09 kWh. The results of second law analyses are showed that the highest exergy destruction rate occurs in August for Isparta conditions with 8.18 kW due to the higher solar radiation rates. From the results, it appears that the CO2‐based next‐generation solar‐assisted power and heat generation system can be established and utilized in Isparta more effectively. The future research should, therefore, concentrate on moving the actual experimental setup to Isparta for field test experiments. © 2019 Society of Chemical Industry and John Wiley & Sons, Ltd.