Cooling towers remove economically or technically unusable heat using considerable amounts of electricity and, in many cases, water. Several approaches, which vary in methodology, scope, and level of detail, are used for environmental evaluations of these cooling systems. Although the chosen approach has a significant impact on decisions made at the plant level, no methodology has yet been standardized for selecting the approach that best serves the objectives of the evaluation. Thus, this paper provides comparison criteria for the systematic selection of suitable evaluation methods for cooling towers and classifies how the methods score in this respect. These criteria, such as ‘life cycle thinking’, ‘inventoried physical quantities’, ‘temporal resolution’, ‘formalization’, and ‘data availability’, are grouped by overall evaluation objectives such as ‘thoroughness’, ‘scientific soundness’, and ‘usability’. Subsequently, these criteria were used to compare material flow analysis, energy analysis, environmental network analysis, life cycle inventory, life cycle assessment, environmental footprint methods, emergy analysis, exergy analysis, and the physical optimum method. In conclusion, material flow analysis is best suited for the analysis of cooling towers when impact assessment is not required; otherwise, life cycle assessment meets most of the defined criteria. Moreover, only exergy-based methods allow for the inclusion of volatile ambient conditions.