This paper presents the optimal sizing of PV/Wind/Fuel Cell/Battery Hybrid Energy System for energizing a Small Scale Industrial Application or a village domestic load of 200 kW. HOMER software is used for simulation of the complete system. The solar radiation data and wind speed data used in this paper are for the place of Coimbatore, Tamil Nadu, India which is located 11.0183° N longitude and 76.9725° E latitude. The optimized sizes of components of Hybrid Power System (HPS) are found based on Levelised Cost of Energy (LCE) and total Net Present Cost (NPC). The results are presented and compared for five different combinations of HPS components. Suggestions are also presented to choose the low cost system which produces energy at low LCE.