In this paper, an ammonia-water based Rankine cycle is thermodynamically analyzed for renewable-based power production, e.g. solar, geothermal, biomass, oceanic-thermal, and nuclear as well as industrial waste heat. Due to the nature of the ammonia-water mixture, changes in its concentration allow thermodynamic cycles to adapt to fluctuations in renewable energy sources, which is an important advantage with respect to other working fluids. The non-linearity of the working fluid's behaviour imposes that each cycle must be optimized based upon several parameters. A model has been developed to optimize the thermodynamic cycle for maximum power output and carry out a parametric study. The lowest temperature state of the system is fixed, and three other parameters are variables of study, namely, maximum system temperature, ammonia concentration and energy ratio, which is a newly introduced parameter. Energy ratio indicates the relative position of the expansion state and is defined in terms of enthalpies. The study is conducted over a concentration range of 0-0.5, the maximum temperature studied varies between 75 degrees C and 350 degrees C for extreme cases, and the energy ratio from saturated liquid to superheated vapour. As a result, the optimal expansion energy ratio is predicted. The cycle efficiencies are drastically affected by the concentrations and temperatures. Depending on the source temperature, the cycle energy efficiency varies between 5% and 35% representing up to 65% of the Carnot limit. The optimal energy ratio has been determined for several concentrations and reported graphically. (C) 2010 Elsevier Ltd. All rights reserved.