In Ecuador, the main source of energy to produce domestic hot water (DHW) is electrical energy, either through electric showers or boilers. However, Ecuador has high availability of solar resources that can be exploited using more environmentally friendly technologies. Thus, the purpose of this article is to perform energy and economic analysis of different DHW production systems for the main cities and regions of Ecuador. TRNSYS energy simulation software was used for the energy analysis, and economic data were analyzed annually for a life horizon of 20 years. The main results show that in cities with high solar resources and low cost of electricity (Quito, Loja, Tena, and Macas), the most profitable system is the one using solar thermal energy with flat plate collectors and an electric resistance as an auxiliary heater. On the other hand, in cities with high solar resources and high electricity costs (Esmeraldas, Puerto Baquerizo Moreno, and Guayaquil), the most profitable heating system is the one that uses a thermo-photovoltaic panel (PV/T) and electrical resistance as an auxiliary system. This is due to the considerable contribution of the PV/T in the production of electricity. Finally, in cities with fewer solar resources and high electricity costs (Santo Domingo and Zamora), the most profitable system is the one that uses a heat pump assisted by a PV/T solar panel. This is because, given the low solar resource, it is necessary to use a more efficient electrical heating system such as electric heat pumps.