This study evaluates the use of cracking for the removal of carbon from fuels to be used in a power generation process. Unlike conventional power generation systems, the proposed system includes a cracking unit, the function of which is to convert primary fuels into H-2 rich syngas and solid carbon, thus avoiding the emission of CO2 and the need for carbon capture and storage (CCS) in the power generation system. Based on the thermodynamic analysis of equilibrium reactions in the cracker, it is demonstrated that the operating temperature has a significant influence on the carbon capture rate achieved and the composition of the syngas. Carbon in the fuel can be captured in solid form from hydrocarbon fuels when operating the cracker at sufficiently high temperatures; however, only a portion of carbon can be captured in a solid form from oxygenated hydrocarbon fuels, with the maximum carbon capture rate being achieved at an optimum temperature. An energy analysis, which takes into account the energy penalty of CCS for the conventional power generation system, reveals that the net available energy from the proposed system is still not as high as that of the conventional system with CCS; however, the solid carbon can be of high commercial value when appropriate technology is employed to convert the carbon byproduct into a high-added-value carbon product such as carbon black or carbon nanotubes (CNTs).