The transition from fossil fuels to renewable energy is vital for addressing climate change and ensuring energy security. Hybrid renewable energy systems (HRES), particularly those integrating solar photovoltaic (PV) and wind power, have emerged as a promising solution to overcome the intermittency and variability of individual sources. This study develops a comprehensive simulation and optimization framework for hybrid PV–wind systems, incorporating advanced energy storage options such as lithium-ion batteries and ultracapacitors. Using high-resolution meteorological and load data, both grid-connected and off-grid configurations are analyzed to evaluate system reliability, cost-effectiveness, and adaptability across different climates. A special focus is given to Kuwait, where high solar irradiance and moderate wind resources align with national energy diversification goals under Kuwait Vision 2035. The results highlight the technical and economic feasibility of hybrid systems, showing significant improvements in energy yield, load matching, and levelized cost of energy (LCOE) compared to standalone technologies. Furthermore, the study underscores the importance of intelligent control strategies, advanced component technologies, region-specific optimization, and explicit planning and performance evaluation insights in ensuring sustainable and resilient deployment of hybrid renewable systems.