A novel multi-generation system (MGS) that comprises two absorption cycles, two Rankine cycles (RCs), and a hot water (HW) production chamber is studied in this research. It is designed to utilize the waste heat from the first Rankine cycle as a thermal energy input for the second Rankine cycle and a double-effect absorption cycle (DEAC). The waste heat from the second Rankine cycle serves as heat input to a single-effect Rankine cycle. Regeneration and reheat principles are also applied to the Rankine cycles. The objective of the study is to develop an MGS without a gas cycle that can achieve higher energy and exergy efficiencies. Two concentrated solar technologies, namely, parabolic trough collectors (PTCs) and heliostats are used to power the designed system. The environmental benefit of the system is also analyzed. The energy and exergy efficiencies of the novel MGS presented in this study are 73.11% and 50.72%, respectively. The application of solar thermal technologies to power the system reduces the overall energy and exergy efficiencies, respectively, to 56.12% and 38.39% for the solar PTC and 41.89% and 29.06% for heliostats. The energy and exergy coefficient of performances (COPs) are 0.754 and 0.349 for the single-effect absorption cycle (SEAC), respectively. As much as 752.7 kg/h of CO2, 2.13 kg/h of NOx, and 4.21 kg/h of SOx will be saved from being emitted to the atmosphere.