Abstract: Power generating and air conditioning system comprises an internal combustion engine, a vapor engine, and a refrigerant cooled air conditioning system wherein the vapor engine is driven by the expansion gas of refrigerant, the waste heat of the internal combustion engine is exchanged through a heat exchanger with the refrigerant, such as freon, and the pressure is accumulated to a working pressure, then introduced into the refrigerant engine to expand and drive the rotor to generate power. After the work is done, the larger part of the refrigerant gas is reintroduced through a receiver, to the heat exchanger to absorb heat and accumulate pressure. The remainder of the refrigerant gas is bypassed is condensed in a condenser, and evaporated in an evaporator to produce a cooling effect.