Concentrator photovoltaics (CPVs) have demonstrated high electrical efficiencies and technological potential, especially when deployed in CPV–thermal (CPV-T) hybrid absorbers, in which the cells’ waste heat can be used to power industrial processes. However, the high cost of tracking systems and the predominant use of expensive multi-junction PV cells have caused the market of solar co-generation technologies to stall. This paper describes the development and testing of a low-cost alternative CPV cell based on crystalline silicone (c-Si) for use in a novel injection-molded parabolic hybrid solar collector, generating both, photovoltaic electricity and thermal power. The study covers two different c-Si cell technologies, namely, passive emitter rear contact (PERC) and aluminum back surface field (Al-BSF). Simulation design and manufacturing are described with special attention to fingerprinting in order to achieve high current carrying capacities for concentrated sunlight. It was determined that Al-BSF cells offer higher efficiencies than PERC for the considered use case. Solar simulator tests showed that the highly doped 4 cm² cells (50 ohm/sq) reach efficiencies of 16.9% under 1 sun and 13.1% under 60 suns at 25 °C with a temperature coefficient of −0.069%(Abs)/K. Finally, options to further improve the cells are discussed and an outlook is given for deployment in a field-testing prototype.