Low-emissivity (low-E) window films are designed to improve the thermal comfort and energy performance of buildings. These films can be applied to different glazing systems without having to change the whole window. This makes it possible to apply films to windows in old and historical buildings for which preservation regulations often require that windows should remain unchanged. This research aims to investigate the impacts of low-E window films on the energy performance and thermal comfort of a three-story historical stone building in the cold climate of Sweden using the simulation software “IDA ICE”. On-site measurements were taken to acquire thermal and optical properties of the windows. This research shows that the application of the low-emissivity window film on the outward-facing surface of the inner pane of the double-glazed windows helped to reduce heat loss through the windows in winter and unwanted heat gains in summer by almost 36% and 35%, respectively. This resulted in a 6% reduction in the building’s annual energy consumption for heating purposes and a reduction in the percentage of total occupant hours with thermal dissatisfaction from 14% (without the film) to 11% (with the film). However, the relatively high price of the films and low price of district heating results in a rather long payback period of around 30 years. Thus, the films seem scarcely attractive from a purely economic viewpoint, but may be warranted for energy/environmental and thermal comfort reasons.