Thermodynamic analysis of the thermophotovoltaic system was carried out in our research and the results are presented. Firstly, the thermophotovoltaic system was analyzed in three different regions. In the analysis, each part of the system is taken separately, while the whole system is handled separately. In the system, the first analysis was resolved following the first law of thermodynamics and the second according to the second law. The first region is the thermodynamic analysis of the heat source of energy that occurs with radiation until it reaches the filter. The second region is where the filter, selective-emitter and photovoltaic cells, considered as photovoltaic systems, take place. The heat radiating from the heat source is evaluated within the scope of the thermodynamic analysis of the heat generated by the electrospinning and the electromotive force of each element. The third region, which is expressed as the last region, is considered to be the part where electric energy is stored. Within the thermodynamic analysis of each region, energy and exergy analysis were carried out and the system was analyzed from part to part. As a result of this induction method, a general energy and exergy efficiency of the whole thermophotovoltaic system is determined. Our results are supported by formulas. It is aimed that the work done will be an alternative to the existing electricity generation and will form a resource for future works.