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A novel and comprehensive performance analysis of a single-phase two-winding self-excited induction generator is presented for off-grid power generation. The earlier analysis carried out was found to be incomplete with no critical studies in the different modes of operation. The proposed analysis is unified, comprehensive, and accurate for performance prediction of such system. Different models for all topologies are described and solved using the MATLAB tool-fsolve. The proposed method involves only one simple command to obtain the unknown quantities. A generalized equivalent circuit is evolved for the comprehensive model so that all other possible variants would only be particular cases. The computed and experimental results have been compared. It accounts for all parameters hitherto neglected and quantifies the impact of earlier assumptions. A method to estimate capacitive reactive volt-amperes (VAR) requirements and design suitable external capacitor topology for desired performance and voltage regulation is presented to guide system designers.