This paper presents an optimal capacity design of a Hybrid generation system based on economical evaluation for various loads. Optimal sizes of a standalone and grid connection wind- PV hybrid systems were designed for normal, residential and industrial loads using HOMER (Hybrid Optimization Model for Electronic Renewable). Their economical evaluation were performed and compared with a diesel generation system that covers the same loads. The results showed that the stand alone hybrid generation system can be more economical than a diesel generation system for long term operation.