Different energy solutions are required to satisfy the energy demand of the world’s ever-growing population. Photovoltaic Thermal systems (PVT) could propose resolutions to tackle real-time issues regarding power generation. Life Cycle Analysis (LCA) is performed to compare the environmental impact and measure the energy across different PVT modules consisting of a-Si, CdTe, and CIS thin-film solar cells. The authors performed LCA to calculate the energy payback time (EPBT) and life-cycle CO2 emissions of residential rooftop and open-field PVT systems. The primary energy needed to produce thin-film PVT modules of 1 m2 cell area was considered in the present life cycle analysis studies operated using water as the working fluid. The annual net electrical energy savings at various Indian weather conditions, such as New Delhi, Jodhpur, and Ladakh, have been calculated. For the thin-film PVT systems, the calculated values of annual energy yield for three locations with average solar radiation levels and peak sun hours in the range of 600–1000 W/m2 and 6–8 h were reported. Results show that the CO2 emissions for rooftop installation of CdTe and CIS are around 200 and 156 kg/annually, which is lower than the open field installation of the same, where CO2 emissions were found to be 295 and 250 kg/year.