A thermodynamic model including four irreversibilities is used to investigate the optimal performance of a solar‐driven thermoelectric generator. The efficiency of the system is derived and taken as an objective function for optimization. Some important curves, such as the efficiency of the system versus the operating temperature of the solar collector, the reduced current, and the load resistance, are obtained. These curves can reveal the performance characteristics of solar‐driven thermoelectric generators. The maximum efficiency of the system and the corresponding reduced current are derived for some special cases. The optimal matching of load resistance which is one of the key problems in the optimal design of solar‐driven thermoelectric generators is discussed. New bounds of the key performance parameters, such as the efficiency, power output, and load resistance, are determined. ©1996 American Institute of Physics.