The Rajshahi City Corporation generates a significant quantity of municipal solid waste each day, but it does not have an effective waste management system. Additionally, Rajshahi has an inadequate supply of electrical power with an increasing population. This study aims to investigate the energy potential of the municipal solid waste of Rajshahi by incineration and to check the feasibility of the incineration process. The calorific values of municipal solid waste were determined by using a variety of empirical formulae, with the data on the proximal and ultimate analysis serving as inputs. The energy potential of the incineration process was determined using the calorific value, and after that, a cost study for the incineration plant was carried out in order to determine whether or not it would be feasible. It was discovered that the municipal solid waste had a calorific value of 6576.36 kcal/kg, giving it an energy potential of 35.91 MW for the process of incineration. The findings of the research also indicate that the burning of solid waste is a viable option with a payback time of nine years. Incineration as a kind of waste-to-energy conversion presents a potentially workable solution for the management of municipal solid waste and the fulfillment of Rajshahi's need for power. Also, it can be a sustainable way to generate energy from municipal solid waste and reducing the dependency on fossil fuels which causes harm to environment, eco-system, and human beings.