Concentrated photovoltaic thermal (CPV/T) solar collector systems are designed to provide simultaneously thermal and electrical energies. This paper analyzes a numerical model of a photovoltaic thermal collector in order to evaluate its performances from energy and economic viewpoints. Therefore, a two dimensional numerical model has been developed and applied in this study. This electrical/thermal model is based on the energy balance of the CPV/T receiver in order to calculate the net thermal and electrical output energy. A comparison between the numerical results and those obtained by experimental studies is presented in order to prove the viability of our developed model. The results show that the output power predicted by the numerical model has a good agreement with the experimental data with low mean percentage errors. Indeed, the effects of several parameters on the performance of the system were examined and discussed in details. The simulation process has allowed evaluating the power generation of the CPV/T system and performing a comprehensive economic analysis study under Chambery and Tunisia conditions. The CPV/T system has proven its viability and feasibility especially in regions with high solar radiation.