eng Science and Education Publishing American Journal of Electrical and Electronic Engineering 2328-7357 2017-02-07 5 1 16 22 10.12691/ajeee-5-1-3 AJEEE2017513 article Milad Ghaisi Rad 1 Milad Rahmani 2 Pedram Gharghabi Pg377@msstate.edu 3 Ali Zoghi 3 Seyed Hossein Hosseinian 3 Electrical and Computer Engineering Department, University of Nebraska-Lincoln, Lincoln, United States Department of Electrical Engineering, Amirkabir University of Technology, Tehran, Iran Department of Computer and Electrical Engineering, Mississippi State University, Starkville, United States In this paper a new approach has been introduced to find the optimum capacity of a wind farm to cooperate with a hydro-pumped-storage in order to maximize the income and optimize the payback period of their combination. First, Monte Carlo method has been used to generate the annual price and wind speed values. Then, an operating policy has been considered to schedule each unit generating and saving the produced energy by the wind farm. Subsequently, simulations have been carried out in MATLAB M-File environment to show the effectiveness of the presented method. Finally, results are presented in various circumstances to help the owner to select the optimum condition for constructing a wind hydro-pumped-storage system. http://pubs.sciepub.com/ajeee/5/1/3/ajeee-5-1-3.pdf wind farm pumped-storage wind hydro-pumped-storage optimize the payback period Monte Carlo