This investigation attempts to introduce an innovative decision-making process to assess the hybrid renewable configurations in various applications. For the first time, the two methodologies of Hybrid Optimization Model for Electric Renewables (HOMER) Pro software and exergetic evaluation are integrated. In this novel decision-making approach, a commercial and user-friendly optimizer software is hybridized with exergy calculations. In this study, techno-economic analysis for the rural electrification purpose is investigated. Accordingly, several combined energy systems consist of Photovoltaic panels (PV), Wind Turbines (WT), Battery banks (Bat), and Diesel Generator (DG) are techno-economically investigated. Also, to improve technical evaluation of suggested hybrid renewable systems, the detailed exergy analysis is conducted for each component and the whole system. By applying exergy assessment, the main source of exergy wasting is recognized and the feasible solutions can be introduced to improve the technical performance. The outcomes illustrated that the cost of energy and net present cost of best scenario are 0.17 $/kWh and 168,378 $, respectively. The overall exergy efficiency and exergy destruction rate of optimum configuration (PV/WT/DG/Bat) are accounted for 25.96% and 303206.86 kWh/year, respectively. Also, it was found that 88.68% of the overall exergy wasting occurred in the PV modules. The mean annual exergy efficiency of PV modules and wind plant are computed as 13.03% and 72.25%, respectively. Correspondingly, to diminish the exergy wasting of the system, utilization of different common solar trackers is examined. To investigate the cost-effectiveness of each proposed tracking system, the Cost-Effective Index (CEI) is defined. The more the CEI, the more the cost-effectiveness of energy configuration. The vertical tracking system with a capacity of 20.1 kW PV has the greatest value of CEI (13.49), as a result, this system is the most cost-effective option. By employing this configuration, the overall exergy efficiency increases to 32.14%, and the overall irreversibility rate reduces to 224054.14 kWh/year. Finally, the parametric analyses regarding the economic factors, exergy parameters, and renewable resources are conducted to generalize the outcomes of this project to other rural areas. This proposed decision-making process can be a powerful tool with high reliability for techno-economic evaluation of each hybrid renewable configuration.