In this paper, a parametric analysis of two solar heating and cooling systems, one using an absorption heat pump and the other one using an adsorption heat pump, was performed. The systems under investigation were designed to satisfy the energy requirements of a residential building for space heating/cooling purposes and domestic hot water production. The system with the absorption heat pump was analyzed upon varying (i) the solar collectors' area, (ii) the volume of the hot water storage, (iii) the volume of the cold water tank, and (iv) the climatic conditions. The system with the adsorption heat pump was evaluated upon varying (i) the inlet temperature of hot water supplied to the adsorption heat pump, (ii) the volume of the hot water storage, (iii) the volume of the cold water tank, and (iv) the climatic conditions. The analyses were performed using the dynamic simulation software TRNSYS in terms of primary energy consumption, global carbon dioxide equivalent emissions, and operating costs. The performance of the solar heating and cooling systems was compared with those associated with a conventional system from energy, environmental and economic points of views in order to evaluate the potential benefits.