Hybrid renewable energy systems (HRES) comprise a group of different energy sources and storage units that feed a specific load, efficiently. This research paper aims to develop a new methodology that provides the optimal size of the proposed HRES and runs it efficiently. Bi-level mixed-integer nonlinear programming (BMINLP) optimization approach is used to combine the sizing task and the energy management strategy (EMS) established utilizing the economic model predictive control (EMPC) method. The sizing task (upper layer) is formulated as mixed integer nonlinear programming (MINLP) optimization that has been implemented by the solver: multi-objective genetic algorithm (MOGA). EMS task (lower layer) is represented as a constraint embedded within the upper layer and executed as mixed integer linear programming (MILP) per each applied solution of the sizing task. The principal findings indicate that the total cost of the system is about 114,224 $. In detail, the annual fixed operation and maintenance, investment, and operating costs are 15,090 $, 28,351 $, and 70,783 $, correspondingly. Furthermore, around 90 % of the overall produced power is imported from the grid, while the load power represents about 95 % of the total demanded power.