In the paper, a solid oxide fuel cell (SOFC) system is briefly described and its economical feasibility in three different applications is analyzed. In the feasibility analysis, the SOFC system is part of commercial applications where energy is used for power and heat generation. In the economical analysis, the three applications have different load profiles which are studied separately at different geographical locations with associated local energy market conditions. The price for natural gas and electricity varies by location, leading to a different feasibility condition for stationary fuel cell application as well as for other distributed generation equipment. In the study, the spark spread of natural gas and electricity is used as a base variable for the analysis. The feasibility is analyzed in the case of an electricity-only application as well as with two combined heat and power applications, where an economical value is assigned to the produced and consumed heat. The impact on economical competitiveness of possible incentives for the generated fuel cell power is estimated. A sensitivity analysis with different fuel cell-units’ electrical efficiency, maintenance cost, and payback period is presented. Finally, the maximum allowed investment cost levels for the SOFC system at different locations and market conditions is presented.