A photovoltaic shading device (PVSD) is a promising technology that can both generate electricity and provide shading to reduce indoor energy consumption. This paper aims to evaluate the performance of three PVSD design strategies in five Chinese cities by using a proposed all-in-one simulation program, according to the parametric performance design method. The program can be used to predict the energy consumption, power generation, and economic feasibility of different PVSD strategies. It was, firstly, calibrated through an actual experiment which was carried out in Qingdao and, secondly, used to simulate the energy consumption and generation of the three PVSD strategies in relation to the optimal angles and heights. Finally, the program was used to calculate the energy efficiency and economic feasibility of the three strategies. The findings indicated that the move-shade strategy of PVSD can provide the best energy-saving performance, followed by rotate-shade and fixed-shade strategies. Compared to the no-shade strategy, the reduction of the net energy use intensity by using the move-shade strategy was 31.80% in Shenzhen, 107.36% in Kunming, 48.37% in Wuhan, 61.79% in Qingdao, and 43.83% in Changchun. The payback periods of the three strategies ranged from 5 to 16 years when using the PVSD in China.