In this study, a concentrated solar photovoltaic (CSPV) energy-based ejector absorption refrigeration cycle (EARC) is evaluated using thermodynamic and thermoeconomic tools for a resident in Libya. The solar data of Al-Jofra city is utilised to operate the CSPV system that produce enough heating and electricity for the refrigeration cycle generator and the thermal energy storage. The overall COP and exergy efficiency of the system at peak times are 0.82 and 32%, respectively. Cooling cost flow rate of the overall system is found to be around $0.22 per hour at generator temperatures above 100 degrees C without thermal energy storage, while it is determined to be as high as $0.29 per hour with storage. Even though the system presents high cooling costs due to high investment costs for the CSPV equipment, almost 6.58 tons of annual CO2 emissions can be prevented with this renewable-based cooling system when replaced with conventional refrigeration systems.