One of the main advantages of solar concentrating photovoltaic-thermal collectors (C-PVT) is that these systems are all-in-one module type. For this reason, they are associated to less area and material requirements. Nevertheless, these systems require a more complex analysis in order to improve their performances, since the two types of energy conversion are related to the different demands and their cross effects. In the overall analysis, the collector geometry and the used materials for all their components will be crucial to ensure the system reliability. This study presents preliminary work about re-designing the reflector of C-PVT collectors currently produced in the Swedish SME Solarus Sunpower AB with a comparative analysis on an annual basis of the solar radiation that reaches the collector. For the work accomplished, an open-source advanced object-oriented Monte Carlo ray tracing program (Tonatiuh) is used. For low latitudes, two reflector shapes have been selected since they ensure better performances than the current Solarus reflector. These two new designs achieve both the performance and cost-effectiveness objectives: for the same aperture area and for a thinner box, the collector is 7% to 10% more effective and 18% cheaper.