Hybrid renewable energy systems (HRES) are a trendy alternative to enhance the renewable energy deployment worldwide. They effectively take advantage of scalability and flexibility of these energy sources, since combining two or more allows counteracting the weaknesses of a stochastic renewable energy source with the strengths of another or with the predictability of a non-renewable energy source. This work presents an optimization methodology for minimum life cycle cost of a HRES based on solar photovoltaic, wind and biomass power. Biomass power seeks to take advantage of locally available forest wood biomass in the form of wood chips to provide energy in periods when the PV and wind power generated are not enough to match the existing demand. The results show that a HRES combining the selected three sources of renewable energy could be installed in a rural township of about 1300 dwellings with an up-front investment of US $7.4 million, with a total life cycle cost of slightly more than US $30 million. Such a system would have benefits in terms of energy autonomy and environment quality improvement, as well as in term of job opportunity creation.