A traveling-wave thermoacoustic electric generator, which is composed of a traveling wave thermoacoustic engine and linear alternators, is promising in solar power generation and energy recovery due to its high efficiency, high reliability, and capability of utilizing low-grade heat. An equivalent acoustic circuit of a linear alternator is first built and analyzed using electro–mechano-acoustical analogy. It is found that the acoustic coupling of the linear alternators to the traveling-wave thermoacoustic engine is crucial to the performance of the system. A traveling-wave thermoacoustic electric generator with a variable electric R-C load is then constructed and experimentally studied. Both the theoretical analysis and the experimental results show the importance of mechanical and electrical resonances to the overall performance of the system. Furthermore, the thermal-to-electric efficiency and the electric power are found to be proportional to the pressure amplitude and the square of it in front of the piston of the linear alternator, respectively. By optimizing the load impedance, the traveling-wave thermoacoustic electric generator has achieved a maximum electric power of 345.3 W with a thermal-to-electric efficiency of 9.34% and a maximum efficiency of 12.33% with an electric power of 321.8 W at around 65 Hz when helium of 3.0 MPa is used as the working gas.