Power generation systems (PGSs) based on hybrid renewable energy are one of the promising solutions for future distributed generation systems. Among different configurations, hybrid photovoltaic-wind turbine (PV-WT) grid connected PGSs are the most adopted for their good performance. However, due to the complexity of the system, the optimal balance between these two energy sources requires particular attention to achieve a good engineering solution. This paper deals with the optimal sizing of PV-WT by adopting different multicriteria decision analysis (MCDA) optimization approaches. Sensitivity of MCDA algorithms has been analyzed, by considering different weighting criteria techniques with different fluctuation scenarios of wind speed and solar radiation profiles, thus highlighting advantages and drawbacks of the proposed optimal sizing approaches. The following study could be assumed as a powerful roadmap for decision makers, analysts, and policy makers.