Demand of electricity is rising all over the world, both in developing and developed countries due to escalation in world population and economic growth. The exploitation of renewable energy is imperative to mitigate energy crisis and to avoid the environmental downfall. The stochastic nature of many renewable energy sources sets techno-economic and functional limitations in their application for covering most types of energy needs. These limitations can be surmounted if a renewable and a conventional energy source are combined to formulate a hybrid generation power system. This paper examines the techno-economic feasibility of four hybrid power generation systems applied to cover the demand of a typical off-grid residence for a 20 years period. Each one of these hybrid power solutions should involve at least one renewable energy source technology and be able to cover all load needs. Four applications are investigated for each hybrid system, accounting to different geographical areas in Greece with diverse solar and aeolic profile. A comparative analysis is followed to set off the optimal solution based on a minimal total cost criterion.