The technical and economic feasibility study of an innovative wind–solar hybrid renewable energy generation system with rainwater collection feature for electrical energy generation is presented in this paper. The power generated would supply part of the energy requirements of the high-rise building where the system is installed. The system integrates and optimizes several green technologies; including urban wind turbine, solar cell module and rain water collector. The design was conceptualized based on the experiences acquired during the development and testing of a suitable wind turbine for Malaysian applications. It is compact and can be built on top of high-rise buildings in order to provide on-site renewable power to the building. It overcomes the inferior aspect on the low wind speed by channeling and increasing the speed of the high altitude free-stream wind through the power-augmentation-guide-vane (PAGV) before it enters the wind turbine at the center portion. The shape or appearance of the PAGV that surrounds the wind turbine can be blended into the building architecture without negative visual impact (becomes part of the building). The design improves the starting behavior of wind turbines. It is also safer to people around and reduces noise pollution. The techno-economic analysis is carried out by applying the life cycle cost (LCC) method. The LCC method takes into consideration the complete range of costs and makes cash flows time-equivalent. The evaluations show that for a system with the PAGV (30m diameter and 14m high) and an H-rotor vertical axis wind turbine (17m diameter and 9m high) mounted on the top of a 220m high building, the estimated annual energy savings is 195.2MWh/year.