Hybrid desiccant cooling system (HDCS) driven by district heating has been reported to be energy efficient so as to reduce CO₂ emission compared to conventional vapor compression (VC) system. In this study, operation cost and initial investment of HDCS are compared to conventional air conditioner by thermoecomic analysis based on annual equal payment. Total annual cost for HDCS is still high compared to a traditional system. However, the maximum annual saving in operating cost is estimated as 188,300 KRW. If HDCS operates 370 hours per year, primary energy savings becomes 0.108 TOE and the reduction of CO₂ emission is 0.84 t. Considering the national benefit, incentive program such as feed in tariff needs to be prepared.