This paper discusses the optimization of hybrid power systems, which consist of solar cells, wind turbines, fuel cells, hydrogen electrolysis, chemical hydrogen generation, and batteries. Because hybrid power systems have multiple energy sources and utilize different types of storage, we first developed a general hybrid power model using the Matlab/SimPowerSystemTM, and then tuned model parameters based on the experimental results. This model was subsequently applied to predict the responses of four different hybrid power systems for three typical loads, without conducting individual experiments. Furthermore, cost and reliability indexes were defined to evaluate system performance and to derive optimal system layouts. Finally, the impacts of hydrogen costs on system optimization was discussed. In the future, the developed method could be applied to design customized hybrid power systems.