In this paper, a Solar Heating and Cooling (SHC) system including photovoltaic/thermal (PVT) collectors is considered, implementing a novel polygeneration system producing electricity, space heating and cooling and domestic hot water. In particular, PVT collectors operating up to 80 degrees C are considered. A case study for a university building located in Naples (Italy) is developed and discussed. The system is mainly composed by: PVT collectors, a single-stage LiBr-H2O absorption chiller, storage tanks and auxiliary heaters. The system also includes additional balance-of-plant devices: heat exchangers, pumps, controllers, cooling tower, etc. The PVT produces electricity which is utilized in part by the building lights and equipments and in part by the system parasitic loads: the rest is eventually sold to the grid. Simultaneously, the PVT system provides the heat required to drive the absorption chiller. The system performance is analyzed from both energetic and economic points of view by means of a zero-dimensional transient simulation model, developed with TRNSYS. The economic results show that the system under investigation can be profitable, provided that an appropriate funding policy is available. In addition, the overall energetic and economic results are comparable to those reported in literature for similar systems. (C) 2012 Elsevier Ltd. All rights reserved.