High Concentrator Photovoltaic Thermal (HCPV/T) systems produce both electrical and thermal energy and they are efficient in areas with high Direct Normal Irradiance (DNI). This paper estimates the lifecycle environmental impact of the HCPV/T 2000x system for both electrical and thermal functionalities. Process-based attributional method following the guidelines and framework of ISO 14044/40 was used to conduct the Life Cycle Assessment (LCA). The midpoint and endpoint impact categories were studied. It was found that the main hotspots are the production of the thermal energy system contributing with 50% and 55%, respectively, followed by the production of the tracking system with 29% and 32% and the operation and maintenance with 13% and 7%. The main contributor to the lifecycle environmental impact category indicators was found to be the raw materials acquisition/production and manufacturing of the thermal energy and tracking systems. The results indicate that the lifecycle environmental impact of the HCPV/T 2000x system is lower compared to fuel-based Combined Heat and Power (CHP) and non-Renewable Energy Sources (non-RES) systems.