In this paper, a simulation model of a Concentrating Photovoltaic Thermal-energy cogeneration system (CPV/T) is investigated in order to evaluate its thermal and electrical performances for hot water loads referring to a textile industry application. Simultaneous production of electrical and high-grade thermal energy is provided with a CPV/T system at high temperature. The electrical and thermal performances of the system operating in Monastir city, Tunisia, are numerically investigated. Using our developed simulation, the heat and electrical power of the system have been analyzed for four typical days of the year. Furthermore, the effect of water flow rate, the outlet fluid temperature and the loss coefficient of the collector have been involved to identify their impact on the output power. The simulation process led to evaluate the energy feasibility of the CPV/T system and a comprehensive economic analysis study of the system under investigation was performed proving its viability in comparison with the conventional one.