Abstract Utilizing the density functional theory (DFT) method, this study aims to predict with precision the structural, elastic, electronic, magnetic, thermoelectric, thermal, and optical properties of two recently discovered half-Heusler alloys, namely RbCrSi and RbCrGe. The exchange and correlation potential are accounted for using the generalized gradient approximation of Perdew–Burke–Ernzerhof (GGA-PBE) and the Tran–Blaha-modified Becke–Johnson exchange potential (TB-mBJ). Through structural analysis, it is observed that both RbCrSi and RbCrGe alloys exhibit energetic stability in a type-3 structure with a ferromagnetic (FM) state. Both alloys exhibit half-metallic properties and integer magnetic moments of 3 μB, following the Slater-Pauli rule. Additionally, elastic calculations confirm their mechanical stability and anisotropic ductile behavior. The quasi-harmonic Debye model (QHDM) is employed for calculating thermodynamic properties, while the BoltzTraP code, based on semi-classical Boltzmann theory (SCBT), is utilized for evaluating thermoelectric properties. Findings reveal that RbCrZ alloys (with Z = Si, Ge) exhibit high figure of merit (ZT) values nearing unity at highest temperature. Consequently, the newfound half-Heusler alloys RbCrSi and RbCrGe hold significant promise for applications in thermoelectricity and spintronic devices. This comprehensive analysis underscores the potential of these alloys in the realm of renewable energy applications.