Hybrid Renewable Energy Systems connected to the traditional power suppliers are an interesting technological solution in the field of energy engineering and the integration of renewable systems with other energy systems can significantly increase in energy reliability. In this paper, an analysis and optimization of the hybrid energy system, which uses photovoltaic modules and wind turbines components connected to the grid, is presented. The system components are optimized using two objectives criteria: economic and environmental. The optimization has been performed based on the experimental data acquired for the whole year. Results showed the optimal configuration for the hybrid system based on economical objective, that presents the best compromise between the number of components and total efficiency. This achieved the lowest cost of energy but with relatively high CO2 emissions, while environmental objective results with lower CO2 emissions and higher cost of energy and presents the best compromise between the number of components and system net present cost. It has been shown that a hybrid system can be optimized in such a way that CO2 emission is maximally reduced and – separately – in terms of reducing the cost. However, the study shows that these two criteria cannot be optimized at the same time. Reducing the system cost increase CO2 emission and enhancing ecological effect makes the system cost larger. However, depends on strategies, a balance between different optimization criteria can be found. Regardless of the strategy used economic criteria – which also indirect takes environmental aspects as a cost of penalties – should be considered as a major criterion of optimization while the other objectives including environmental objectives are less important.