In this paper, the analysis of the design and operation of a hybrid trigeneration/photovoltaic system installed in a shopping mall is presented. Thermodynamic models based on the first and second laws are developed to analyze all the system's components individually and integrated all together in a trigeneration scheme. Thermodynamics models were validated through experimental data obtained from the equipment running on site. Once the models were validated, it was possible to analyze the actual operating conditions to determine the suitability of the design configuration and to predict the overall performance of the system. In the analysis of the system's design, the first and second law efficiencies, the exergy of each stream, as well as the exergy destruction in each component are reported. In the analysis of the system's operation, several scenarios under different operating conditions were studied and the most suitable scenario was determined by applying an economic analysis based on the net present value. The results show the configuration on which the maximum energy efficiency of the system is obtained as well as the best operation strategy where the greatest economic savings are achieved.