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This work investigates the feasibility of hybrid power generation system using multiple energy sources to fulfil the electrical demand of a residential community. The system performance is evaluated against the capital investment, Cost of Electricity (COE), CO2 emissions and Net Present Cost. Results indicate that the hybrid system reduces the COE by 47% compared to grid price and has a negative CO2 emissions of 24,603 kg/yr due to supplying its surplus energy to the grid. Renewable sources contribute to 80.1% of the overall power produced by the hybrid system. The study finds that the hybrid systems could replace complete dependency on grids.