The present paper investigates the feasibility of a tri-generation energy system in an industrial scenario with a modest size in terms of levels of electricity, heat, and cooling consumption. The technology under consideration is the fuel cell technology, both solid oxide fuel cells and proton exchange membrane fuel cells (PEMFCs), compared to other more mature technologies, such as micro gas turbines. The proposed investigation takes into account several scenarios: the existing economy and state-of-the-art technical key performance indicators of the involved energy systems; the state-of-the-art technical key performance indicators of the involved technologies and economic subsidies; and a future scenario that takes into account economies of scale and better performance using the key metrics for fuel cell technology forecasted as 2030 target at European level. The PEMFCs with lithium-ion storage showed total efficiencies in the order of 75% over three reference periods. In terms of emissions, they guarantee a decrease in carbon dioxide equivalent released into the atmosphere equal to 40% of the reference emissions for a separate generation.