Thermodynamic and thermoeconomic investigations of a small-scale integrated gasification solid oxide fuel cell (SOFC) and Stirling engine for combined heat and power (CHP) with a net electric capacity of 120kWe have been performed. Woodchips are used as gasification feedstock to produce syngas, which is then utilized to feed the anode side of the SOFC stacks. A thermal efficiency of 0.424 LHV (lower heating value) for the plant is found to use 89.4kg/h of feedstock to produce the above mentioned electricity. Thermoeconomic analysis shows that the production price of electricity is 0.1204$/kWh. Furthermore, hot water is considered as a by-product, and the cost of hot water is found to be 0.0214$/kWh. When compared to other renewable systems of similar scales, this result shows that if both SOFC and Stirling engine technology enter the commercialization phase, then they can deliver electricity at a cost that is competitive with the corresponding renewable systems of the same size.