Abstract In this paper, an attempt has been made to evaluate and compare the energy matrices of a hybrid photovoltaic thermal (HPVT) water collector under constant collection temperature mode with five different types of PV modules namely c-Si, p-Si, a-Si (thin film), CdTe and CIGS. The analysis is based on overall thermal energy and exergy outputs from HPVT water collector. The temperature dependent electrical efficiency has also been calculated under composite climate of New Delhi, India. It is observed that c-Si PV module is best alternative for production of electrical power. Maximum annual overall thermal energy and exergy is obtained for c-Si PV module. The maximum and minimum EPBT of 1.01 and 0.66 years on energy basis is obtained for c-Si and CIGS respectively, whereas on exergy basis maximum EPBT of 5.72 years is obtained for a-Si and minimum of 3.44 in obtained for CIGS PV module. EPF and LCCE increase with increasing the life time of the system.