The primary goal of this study is to determine the minimum cost of energy (COE) for five different global locations - Squamish, Canada; Los Angeles and Golden, USA; and Brisbane and Adelaide, Australia - based on renewable energy systems. We do this by investigating power generation and hydrogen production via renewable energy resources (mainly solar and wind) to produce synthetic fuels by capturing CO2 from the atmosphere. Nine different renewable energy systems are considered based on photovoltaic (PV), wind turbines (WT) and combinations thereof, including battery banks and hydrogen technologies. We used the Hybrid Optimization Model for Multiple Energy Resources (HOMER Pro) microgrid software to simulate the optimum size of system components and to identify the cost-effective configurations based on particular locations. When considering minimum COE, the results show that integration of PV, WT, a battery bank, an electrolyser and a hydrogen tank are at 0.50 $/kWh at Golden, Colorado, USA. We also found that without a battery bank, the minimum COE is 0.78 $/kWh at the same location. In this case, the cost increase is due to the capital cost of system components, mainly the hydrogen technologies. The results of this study suggest that hydrogen has economic benefits over batteries for long-term energy storage in off-grid energy systems.